Core Viewpoint - A competitive landscape is emerging in the enterprise software market, particularly between Salesforce and ServiceNow, as Salesforce aims to enhance its AI capabilities and revenue growth through new product offerings and strategic partnerships [1][3]. Group 1: Salesforce's AI Strategy - Salesforce is focusing on increasing the adoption of AI products among enterprise customers, leveraging its acquisition of Slack Technologies and introducing the Agentforce 360 platform for building AI agents [2][3]. - The introduction of new Slackbots as personal AI companions and an expanded partnership with OpenAI to integrate Agentforce apps into ChatGPT are key components of Salesforce's AI strategy [3][4]. Group 2: Product Developments - At the Dreamforce 2025 conference, Salesforce evolved its Customer 360 into Agentforce 360, positioning itself as an AI orchestration layer for enterprises, which overlaps with ServiceNow's automation and workflow solutions [4][6]. - New products such as Agentforce Voice and Agentforce Vibes were unveiled, allowing for natural communication with customers and enabling users to build applications using natural language [5]. Group 3: Market Performance and Stock Analysis - Salesforce stock rose nearly 1% to $241.51 in early trading, despite a 3.6% decline the previous day and a 27% drop in 2025 [4][10]. - The stock currently holds a sub-par Composite Rating of 61 out of 99 and an Accumulation/Distribution Rating of D-plus, indicating weak institutional buying [8]. Group 4: Competitive Landscape - The competition between Salesforce and ServiceNow is intensifying as both companies focus on workflow automation, data context, and AI agent deployment [4][6]. - Salesforce's recent acquisition of Informatica for $8 billion is part of its strategy to enhance its AI capabilities and compete more effectively in the market [7].

Core Insights - ServiceNow, Inc. is recognized as a trending AI stock on Wall Street, with Oppenheimer analyst Brian Schwartz maintaining an Outperform rating and a price target of $1,150.00 [1] - Conversations with a significant ServiceNow partner indicate strong business activity and pipeline momentum in Q3, reflecting robust operational performance [2] - Despite slower customer relationship management (CRM) traction compared to Salesforce, ServiceNow is gaining momentum by integrating logic, workflows, and AI automation into its platform [3] - Oppenheimer notes that while demand for artificial intelligence is beginning to slow, ServiceNow retains a strong position and pricing power in the AI sector, positioning the company for durable growth as a leading enterprise integration engine [4] Business Performance - The partner's strong business activity and pipeline momentum in Q3 suggest positive operational performance for ServiceNow [2] - The company is actively migrating its logic and workflows to enhance its AI capabilities, which is expected to improve its competitive stance against Salesforce [3] Market Position - ServiceNow is well-positioned for sustainable growth in the enterprise software market, particularly as a cloud-based platform for automating business workflows [4]

Market Overview - U.S. equity markets continued to rise in Q3, with the Russell 1000 Growth Index increasing by 10.5% and achieving 24 new all-time highs [3] - The S&P 500 rose by 8.1%, the Nasdaq 100 advanced by 11.2%, and the Dow Jones Industrial Average increased by 5.2% [3] - The rally was largely driven by significant infrastructure investments in the AI sector, including a $90 billion plan announced by President Trump and various multi-billion dollar partnerships among major AI companies [3] Economic Impact - Deutsche Bank estimates that tech spending, primarily in AI, will contribute approximately 1-1.5 percentage points to U.S. GDP growth in 2025 [3] - The U.S. government has been running around $2 trillion in fiscal deficits for the first 11 months of FY-2025, which, along with easing monetary policy, has supported equity market performance [3][6] Monetary Policy - The Federal Reserve cut the Federal Funds rate by 25 basis points to a range of 4.00%-4.25% in mid-September, with a more accommodative policy outlook for the coming years [6] - The Fed's median projection for the fed funds rate in 2025 has decreased to 3.6% from 3.9% [6] Sector Performance - Ithaka's portfolio underperformed the Russell 1000 Growth Index by 940 basis points in Q3, with stock selection and sector allocation negatively impacting performance [8] - Positive relative returns were generated in the Financial Services sector, while Technology and Consumer Discretionary sectors were the largest sources of underperformance [9] Key Contributors and Detractors - Top contributors included NVIDIA (18.0% return impact), Robinhood Markets (52.9%), and Shopify (28.8%) [10] - Major detractors were ServiceNow (-10.5%), Chipotle Mexican Grill (-24.6%), and Intuitive Surgical (-17.7%) [10] AI Investment Landscape - The AI infrastructure buildout is projected to reach $400 billion to $600 billion in 2025, with U.S. hyperscalers expected to account for $300 billion to $350 billion of this total [18] - The current wave of AI-driven capital expenditures is compared to historical infrastructure projects, indicating a significant shift in technology investment [18] Future Outlook - The ongoing AI buildout may redefine human interaction across various sectors, with companies viewing this as a once-in-a-generation opportunity [18][21] - Early productivity gains from AI implementations have shown efficiency improvements of 20%-50% in key business operations [20]

Core Insights - ServiceNow (NOW) shares have decreased by 16.1% year to date (YTD), underperforming the Zacks Computer and Technology sector which has returned 19.6% [1][9] - The decline is attributed to macroeconomic challenges and competition from companies like Workday, Oracle, and Pegasystems [2][9] - ServiceNow has raised its subscription revenue guidance for 2025 to between $12.775 billion and $12.795 billion, indicating a growth rate of 19.5-20% on a non-GAAP constant currency basis, which is slower than the 23% growth rate expected for 2024 [3][9] Financial Performance - For Q3 2025, ServiceNow anticipates subscription revenues between $3.26 billion and $3.265 billion, suggesting a year-over-year growth of 19.5% at constant currency [7] - The Zacks Consensus Estimate for Q3 2025 subscription revenues is pegged at $3.26 billion, indicating a 20.2% growth from the previous year [7] - The Zacks Consensus Estimate for 2025 earnings is $16.82 per share, reflecting a 20.83% growth from 2024, while the 2026 estimate is $19.84 per share, suggesting a 17.94% growth over 2025 [21][22] Valuation and Market Position - ServiceNow stock is currently trading at a premium, with a forward 12-month price/sales ratio of 12.31X compared to the sector's 6.73X and competitors like Workday at 6.03X and Oracle at 11.56X [10] - The company has a Value Score of F, indicating a stretched valuation at this moment [8] Growth Drivers - ServiceNow's workflows are gaining traction, with significant deals in technology workflows and core business workflows [13][14] - The company has closed 89 deals greater than $1 million in net new annual contract value (ACV) in the reported quarter [14] - The introduction of the AI-powered Zurich platform and partnerships with NVIDIA, AWS, and Cisco are expected to drive growth [9][17][20] Strategic Collaborations - ServiceNow's collaboration with NVIDIA aims to enhance employee support through AI, while partnerships with AWS and Cisco focus on data integration and AI risk management [18][20] - The Workflow Data Fabric is included in many of ServiceNow's largest deals, combining data, analytics, and AI to improve enterprise outcomes [15][19] Investment Outlook - The expanding portfolio, growing workflow adoption, and positive earnings estimate revisions are expected to enhance top-line growth, justifying the premium valuation [23]

Core Insights - The AGIX index aims to capture the beta and alphas of the AGI era, which is expected to be a significant technological paradigm shift over the next 20 years, similar to the impact of the internet [2] - The article reflects on the progress of AGI and aims to document insights inspired by legendary investors like Warren Buffett and Ray Dalio [2] Market Performance Summary - AGIX experienced a weekly decline of 1.51%, but has a year-to-date return of 30.67% and a return of 91.04% since 2024 [5] - In comparison, major indices like S&P 500, QQQ, and Dow Jones saw declines of 2.79%, 3.00%, and 2.60% respectively [5] Sector Performance - The semi & hardware sector declined by 1.99%, while infrastructure and application sectors saw slight increases of 0.28% and 0.20% respectively [6] AI Investment Framework - The AI investment framework includes a roadmap that has only reached the first stage, "AI for Productivity," despite the emergence of tools like ChatGPT [10] - The second stage, defined as "Gaming as Training," highlights the role of gaming environments in training AI models, as they provide a controllable environment for agents to learn through interaction [10][11] Dreamer Research Insights - The Dreamer series from Google has shown significant advancements in enabling agents to learn through "imagination" in hidden state spaces, with Dreamer v4 achieving knowledge acquisition from unannotated offline video datasets [12][14] - Dreamer v3 demonstrated the ability to generalize across various tasks without extensive adjustments to algorithms, enhancing the applicability of reinforcement learning [13] Hedge Fund Activity - Hedge funds have been increasing their positions in global stocks, particularly in North America and Japan, with a notable focus on the TMT sector [16] - The overall leverage of long/short funds in North America has slightly decreased but remains near historical highs, indicating a cautious approach amidst market volatility [16] AI Stock Highlights - Nvidia's stock reached an all-time high following the approval of chip exports to the UAE, indicating strong demand and potential for growth in international markets [18][19] - Google launched "Gemini Enterprise" to compete with Microsoft and OpenAI, aiming to commercialize its AI investments [20] New AI Tools and Services - Amazon introduced "Quick Suite," an updated AI tool aimed at enhancing automation in office software, while Salesforce launched "Agentforce IT Service" to challenge ServiceNow in IT service management [21][22]

ServiceNow, Inc. (NYSE:NOW) is one of the stocks that Jim Cramer expressed thoughts on. An investing club member inquired about Cramer’s thoughts on the stock during the lightning round, and he replied: “I think ServiceNow is one of the few software-as-a-service stocks that I can still recommend without hesitation. I think Bill’s doing terrific with that company, and he’s a real great representative of his institution.” ServiceNow, Inc. (NYSE:NOW) provides cloud-based workflow and automation solutions ...

We recently published Top 10 Stock Recommendations You Can’t Miss Amid Growing AI Bubble Fears. ServiceNow, Inc. (NYSE:NOW) is one of the top recommended stocks. Jason Snipe, the Founder and Chief Investment Officer of Odyssey Capital Advisors, said in a latest program on CNBC that he likes ServiceNow because the company is starting to monetize its AI tools. “ServiceNow Inc (NYSE:NOW) stock is down 14% year-to-date. They are starting to monetize their AI tools. I like this.” Photo by Sable Flow on Unsp ...

Verano.AI Achieves Milestone with Inclusion on ServiceNow Enterprise OfferingsOctober 09, 2025 7:47 AM EDT | Source: Verano.AIHouston, Texas and Calgary, Alberta--(Newsfile Corp. - October 9, 2025) - Verano.AI, a leader in AI-driven regulatory compliance and workflow automation, today announced its official acceptance into the ServiceNow Store. Through this milestone, Verano.AI will enhance ServiceNow's Governance, Risk, and Compliance (GRC) offering by supporting audit teams and end-use enter ...

SANTA CLARA, Calif.--(BUSINESS WIRE)--ServiceNow to Announce Third Quarter 2025 Financial Results on October 29. ...

Core Viewpoint - ServiceNow (NYSE:NOW) shares experienced a 2% decline following a price target reduction by investment firm Mizuho, indicating a cautious outlook despite a generally positive perception compared to other enterprise application companies [2]. Summary by Category Company Performance - ServiceNow's stock price fell by 2% on Tuesday, reflecting market reactions to Mizuho's revised price target [2]. Market Sentiment - The company is perceived more favorably than other enterprise application firms at this time, suggesting a relative strength in its market position [2].