# 'SaaSpocalypse' is officially cancelled — jump on the historic software rally

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

> Canonical page: https://commonquant.ai/research/for-you/saaspocalypse-is-officially-cancelled-jump-on-the-historic-s--91d2e2a0-aca9-4600-bd42-0c576d19bf1e

Software stocks just had their best month in over two decades. Investors are rushing back into companies like Snowflake and Okta, realizing that artificial intelligence is boosting their sales rather than hurting them.

## Idea

For months, investors feared AI would wipe out software companies, but recent earnings prove the opposite is happening. AI is driving huge demand for identity security (Okta) and cloud data services (Snowflake). ServiceNow has already surged 40% this month, leading a sector-wide relief rally. With the fear gone and fundamental performance strong, this momentum likely has legs as investors play catch-up.

## Key details

- Symbols: IGV, NOW, OKTA, SNOW
- Timeframes: 1d
- Tags: \#software, \#AI, \#growth\_stocks

## Community

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## News sources

- [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
- [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

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