Markets
Software Stocks Violently Reverse the OpenAI Presence Selloff — Salesforce +7%, ServiceNow +8%, Workday +10% in One Session
On Monday July 27 the same five incumbents that OpenAI's Presence launch repriced last week snapped back: Salesforce ~+7%, ServiceNow ~+8%, Workday ~+10%, with money rotating out of NVIDIA and AMD (both down 5-7% on a report that NVIDIA is guaranteeing OpenAI data-center financing) into oversold application software. The bull case cited was that incumbents are monetizing agents as premium add-ons rather than being cannibalized — Agentforce ARR up 205% and ServiceNow's AI business crossing $1B. For builders the signal is that the market has no settled view: the identical facts produced a -12% week and a +10% day within five trading sessions.
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