ServiceNow (NOW) shares jumped nearly 10% on Friday, June 26. Investors focused on the company’s expanding role in the enterprise artificial intelligence market.
A new three-way partnership with HCLTech and Google Cloud drove the rally. This collaboration helps businesses deploy generative AI agents in production environments. ServiceNow also maintains AI alliances with IBM and Hewlett Packard Enterprise.
A June 30 deadline for legacy pricing tiers provided additional momentum. The company is moving customers to new subscription plans featuring integrated AI tools. Analysts expect this deadline to accelerate contract renewals and pull forward revenue.
The company will report quarterly earnings on July 29. This report will offer further evidence of ServiceNow’s AI growth strategy.