This AI Stock May Be the Biggest Winner as Enterprise AI Takes Off

ServiceNow reported 24% revenue growth in Q2 and logged a 40% year-over-year jump in contracts valued at $1 million or more, positioning NOW as a direct play on enterprise AI adoption. The company counts 90% of Fortune 500 firms as customers and has forged partnerships with NVDA, MSFT, and AMZN to deliver AI workflow solutions.

Nvidia CEO Jensen Huang publicly endorsed the stock, saying the market has undervalued NOW and calling it "destined to be the best platform" for enterprise AI. The acceleration in large contract values signals enterprises are upgrading subscriptions as AI costs climb, directly benefiting ServiceNow's subscription revenue base.

The company's embedded position inside the Fortune 500 gives it distribution advantage as AI spending scales. With major cloud and chip partners integrated, NOW is capturing growth at the intersection of workflow automation and generative AI, a category expanding faster than legacy software markets.