ServiceNow Surges 5% as Nvidia Blowout and Salesforce AI Beat Lift Enterprise Software Sector

ServiceNow shares climbed roughly 5% on August 27, carried by a broad enterprise software rally fueled by two major catalysts. Nvidia reported fiscal second-quarter FY27 revenue of $96.2 billion, up 106% year-over-year and well above analyst estimates of approximately $92.3 billion, with adjusted earnings per share of $2.22 topping the $2.09 consensus by 120%. Nvidia guided third-quarter revenue to $108 billion and raised its preliminary FY28 growth outlook to approximately 70%, with CEO Jensen Huang declaring that artificial intelligence had reached an inflection point.

Nvidia shares rose about 7.4% on the session, with Goldman Sachs and Citigroup both lifting their price targets. Separately, Salesforce surged 14% after its fiscal Q2 2027 beat and the unveiling of its Claudeforce product reset the AI narrative for the broader software sector, with the iShares Expanded Tech-Software ETF gaining 3% to $105.19. ServiceNow also appeared at the Deutsche Bank 2026 Technology Conference, where AI-driven growth was the central theme.

Investor Daily Business rated ServiceNow its Stock of the Day, noting the stock cleared an early buy point as concerns about a so-called SaaSpocalypse for software valuations continued to fade. Option volume in NOW was elevated on the session alongside peers including Salesforce, Workday, and CrowdStrike.