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Markets · Investing · Business
Finance
Prediction: ServiceNow's AI Business Triples Before 2029
Tripling works out to about 55% a year -- and the company's own target asks for even more.
When enterprise software company ServiceNow(NYSE:NOW) reported second-quarter results in July, one disclosure stood out from the usual run of strong numbers. The company's artificial intelligence (AI) products crossed $1 billion in annual contract value (ACV), the yearly value of its signed contracts.
A billion dollars is still a small piece of a company expecting nearly $16 billion of subscription revenue this year. But it's one of the fastest-growing pieces of the business.
Details
My prediction: ServiceNow's AI business triples to $3 billion in annual contract value before 2029. Here's a closer look at why I think the company gets there.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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