ServiceNow Inc. (NYSE:NOW) shares are rising Wednesday as a tech-led rebound lifts software stocks. Here’s what you should know.

• ServiceNow stock is gaining positive traction. Why is NOW stock advancing?

ServiceNow Stock Rises as Tech Rebound Lifts Software

Software companies rallied together Wednesday. Gains ranged from 4.3% at Netskope to 7.2% at Oracle, with JFrog up 6.7% and SentinelOne up 5.3%, and the XLK technology fund gained 3.3%. Two of the bigger winners had extra help.

Technology shares are trading higher after CoreWeave, a company that rents out AI computing power, posted results that soothed worries about AI spending. Thomas Egan, a credit analyst at JPMorgan, said the report eased jitters in AI stocks. “You could almost hear the sigh of relief in the AI market,” Egan wrote Wednesday, CNBC reported.

Sales reached $3.66 billion versus $3.55 billion expected, a 168% jump from last year, and the backlog of customer orders stood at $132.5 billion. Michael Intrator, CoreWeave’s chief executive, labeled it “a breakout quarter for CoreWeave.”

Analysts had pegged 2026 revenue at $12.86 billion, while CoreWeave now sees $13 billion up to $13.3 billion. Planned capital spending also falls within a narrower $37 billion to $39 billion range.

Several things could explain why software is higher. CoreWeave’s numbers suggest AI demand, and the money paying for it, are holding steady, which tends to lift confidence in technology broadly and software with it. Software companies also stand to gain from AI, not only lose to it.

ServiceNow, for example, just announced AI agents that monitor risk and compliance controls. After Tuesday’s slide, some buyers may also be stepping back in at lower levels.

ServiceNow Rebounds From Tuesday’s AI Disruption Selloff

Tuesday’s selloff in software followed Anthropic’s release of Claude Sheets, Claude Whiteboards and Claude Data, tools that let the Claude assistant build spreadsheets, whiteboards and dashboards with a team.

The release revived “SaaSpocalypse” worries that artificial intelligence will eat into the business of established software firms, a concern that has hung over the sector lately. ServiceNow, which also announced AI-agent-driven risk monitoring that day, slid along with its peers. Wednesday’s gain may be a recovery of part of that loss.

NOW Shares Are Moving Higher

NOW Price Action: ServiceNow shares were up 2.73% at $102.33 at the time of publication on Wednesday, according to Benzinga Pro.

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