Software stocks gain as AI slowdown appeal lifts ServiceNow 7%, Salesforce nearly 5%

  • Software stocks including Salesforce, Shopify, ServiceNow and Figma gained Monday.
  • 7%: ServiceNow led gains, while Salesforce rose nearly 5%.
  • Neocloud and chip stocks fell by similar proportions on the same day.

Enterprise software stocks including Salesforce, Shopify, ServiceNow and Figma rose Monday as investors appeared to welcome the prospect of a slower pace of AI development. ServiceNow jumped 7%, while Salesforce gained nearly 5%. The move contrasted with similar declines among neocloud and chip companies, which are more directly tied to AI infrastructure spending. Software firms have been viewed as vulnerable to AI, but a meaningful slowdown in AI development could instead weigh heavily on companies supplying the technology and computing capacity behind it.

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