By TradingView
Publication Date: 2026-05-29 19:31:00
ServiceNow NOW Shares rose about 12% in midday trading on Friday as investors moved back to software companies after a series of earnings reports and growing confidence in companies adopting AI.
The rally spread across the software sector after executives at the Jefferies Software, Internet and AI conference discussed how companies are increasingly integrating AI tools into existing platforms rather than treating them as standalone products. Amit Zavery, managing director of ServiceNow, said customers are looking for centralized systems that can monitor AI usage, costs and operational activities alongside traditional software services.
Snowflake (SNOW) gained another 4.5% after rising 36% in the previous session. Microsoft 
MSFT rose nearly 4% ahead of its Build 2026 developer event next week, while Oracle 
ORCL increased by around 8%.
Other business software companies also saw increases. Atlassian (TEAM) rose 11%, GitLab 
GTLB climbed 7.5% and monday.com 
MNDY advanced 6%.
