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There are many in the tech world — Satya Nadella, for one — suggesting that major SaaS platforms will face obsolescence because of the increasing maturity of generative AI and agentic applications.

ServiceNow (NYSE:NOW) reports Q1 2026 results this week, and the timing could not be more charged. The stock is down 36.9% year to date as AI-driven fears have hammered SaaS valuations broadly. This ...