# Software just had its best month since 2001 — ride the AI-fueled comeback on Snowflake, Okta, and ServiceNow

_AI-generated trading idea · LONG · NOW, OKTA, SNOW_

> Canonical page: https://commonquant.ai/research/for-you/software-just-had-its-best-month-since-2001-ride-the-ai-fuel--27cdf811-6bae-4f68-9366-0e882169f0ab

Software stocks just had their best month in over two decades. Companies like ServiceNow, Snowflake, and Okta are surging as investors realize AI is helping — not killing — the software industry.

## Idea

For months investors worried AI would make software companies obsolete. Now the opposite is happening — AI is driving more demand for cloud software, and earnings from Okta, Snowflake, and ServiceNow prove it. ServiceNow is up 40% this month alone, leading a sector-wide relief rally. When an entire sector goes from hated to hot this fast, momentum tends to keep running as fund managers who avoided the group are forced to buy in.

## Key details

- Symbols: NOW, OKTA, SNOW
- Timeframes: daily
- Tags: \#software\_momentum, \#ai\_beneficiary, \#sector\_rotation

## Community

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## News sources

- [Okta Stock Surges On Earnings Beat As AI Drives Identity Product Demand](https://www.investors.com/news/technology/okta-stock-okta-earnings-news-q12026/?src=A00220&yptr=yahoo) — Investor's Business Daily
- [ServiceNow's stock soars toward historic month as AI fears fade across software](https://www.marketwatch.com/story/servicenows-stock-soars-toward-historic-month-as-ai-fears-fade-across-software-31854b69?mod=mw_rss_topstories) — MarketWatch
- [Software stocks wrap up best month since 2001 as talk of 'SaaSpocalypse' subsides](https://www.cnbc.com/2026/05/29/software-stocks-wrap-best-month-since-2001-as-talk-of-saaspocalypse-.html) — CNBC

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- [Latest market news](https://commonquant.ai/news)