ServiceNow’s (NOW) shares languished in the red on Friday afternoon even as the enterprise workflow platform provider announced its expanded AI partnerships with tech giants Nvidia and Microsoft (MSFT). The company made the announcement at its Financial Analyst Day 2026, held in Las Vegas.
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ServiceNow also said it was eyeing $30 billion in subscription revenue by 2030 and expects to hit the forecast on the rising demand of its AI products. The company projects that its flagship AI offering, Now Assist, could rise to account for about 30% of its annual contract value.
However, the announcements and forecast failed to move investors. This comes as the NOW stock sold-off late last month despite its Q1 2026 earnings beat, with investors put off by deals delay, margin pressure, and conservative guidance.