SaaS stocks are rallying as investors shift from AI-skepticism to recognizing software companies as AI winners.

Microsoft's Microsoft 365 Commercial business saw a 250% year-over-year jump in paid Copilot users to 20 million last quarter, while its software business revenue grew 17% and Azure cloud computing revenue grew 39%. Microsoft's annual recurring AI revenue surged 123%.

ServiceNow's configuration management database (CMDB) serves as the foundation for the company's push to become an agentic AI orchestration platform. Its AI Control Tower solution tracks every AI agent and model running within an enterprise, monitoring their performance, security risks, and governance adherence.

Salesforce introduced Data 360 (which uses zero-copy technology to pull data from multiple sources without transfer costs) and acquired Informatica (a master data management company) to position its Agentforce platform as a leading agentic AI solution that provides clean, structured data to AI agents.