ServiceNow shares rose 7% in Monday premarket trading after Nvidia chief executive Jensen Huang said AI agents would not upend software companies and would instead create more opportunities for them. The move extended a sharp rally that had already pushed the stock higher last week.
For investors searching for now stock this morning, the reason was simple: Huang’s remarks at Computex 2026 gave software traders another reason to buy the group. He said, in effect, that AI agents were “completely opposite” to a threat and would create the largest opportunity for his partner companies, a message that landed just days after Nvidia and ServiceNow expanded their partnership on March 5 to build enterprise AI agents.
The reaction also followed a powerful stretch for the shares. ServiceNow posted its best day in a year last week, and Bank of America analyst Tal Liani reinstated coverage with a buy rating, calling the company’s AI Control Tower platform “mission-critical” for organizations trying to govern autonomous agents across the enterprise. The stock gained 41% last week, its best move since the company’s initial public offering in June 2012.
That surge has not erased the longer-term damage. Even after the recent run, NOW stock remained down 19% year to date as of its last close, a reminder that the rebound is coming after a steep slide rather than from a position of strength. Software bulls have lately been encouraged by broader momentum too, with the iShares Expanded Tech-Software Sector ETF rising 21% in May, its best move since October 2001.
The question now is not whether the market heard Huang’s message, but whether Monday’s premarket strength can survive the opening bell. If it does, ServiceNow will have more than a one-day bounce; it will have a signal that investors are still willing to pay up for software names they think can benefit from AI rather than be displaced by it.
