$ServiceNow(NOW.US)

Context: ServiceNow and other software names had previously come under pressure this year on fears that agentic AI would disrupt the traditional software business model — a dynamic dubbed the “SaaS-pocalypse” — as investors worried AI agents could cannibalize seat-based software spending. Those same AI safety concerns are now working in reverse for software stocks: as Anthropic CEO Dario Amodeiand OpenAI CEO Sam Altman call for a more cautious, deliberate pace of AI capability advancement, investors appear to be reading that as reduced near-term disruption risk to established enterprise software platforms like ServiceNow.

My Trade: Bought the dips and has been holding on to ServiceNow. Its earnings have been impressive with the adoption of AI to help boost its services ironically.

Takeaway: With AI leaders calling for a slower AI development, regardless whether this is a hoax or not, the market seemed to shift back to the traditional software stocks for safer haven. Moreover, the high probability of rate hike this month has led to many investors selling high beta hardware stocks as well. @Captain's Treasure