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ServiceNow stock drops 19% despite new AI partnership with OpenAI, sparking debate on AI's impact on software.

29 Oct 2026, 14:02 WIB
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Bearish
ServiceNow stock drops 19% despite new AI partnership with OpenAI, sparking debate on AI's impact on software.

ServiceNow shares fell 19% after reporting mixed Q3 results and lowering Q4 revenue guidance, despite announcing a major AI partnership with OpenAI. The deal includes a ChatGPT plugin and AI workflow tools, signaling AI integration but raising concerns that OpenAI might overshadow ServiceNow in enterprise software. The market's reaction reflects uncertainty whether AI will disrupt or enhance ServiceNow's business. The upcoming Q4 earnings will be crucial to see if ServiceNow can meet revenue expectations and grow its AI-driven contracts.

Following the sharp 19% drop in ServiceNow shares after its Q3 report and AI partnership announcement, the stock is trading at USD 120.15 on Pluang as of Oct 29, 2026 18:11 WIB. The platform shows a 1-day decline of 19.97%, with a market cap of $155.21 billion. Most investors on Pluang have been selling, with 93% of order activity on the sell side and only 7% buying, reflecting cautious sentiment around the stock's near-term prospects.

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