ServiceNow and Enterprise Software Names Experience Rotation Amidst AI Selloff

ServiceNow and other enterprise software names are experiencing a rotation into the sector as the broader artificial intelligence (AI) complex sells off.

The trigger for this move is a weekend essay from Anthropic CEO Dario Amodei, who urged frontier AI labs to slow the pace of model capability development.

This commentary is being read as relief for enterprise software vendors that AI was supposed to displace, but also as pressure on chipmakers and AI infrastructure names carrying the heaviest AI-buildout expectations.

ServiceNow stock is up 5% to $139.62 in early Monday trading, Adobe stock is climbing 4% to $261.90, and Salesforce stock is rising 3% to $254.82.