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AI & Enterprise

UBS downgrades ServiceNow to neutral, citing wavering confidence in AI-era advantage

UBS on Thursday downgraded enterprise software company ServiceNow to neutral from buy and cut its price target to $100 from $170. Analyst Karl Keirstead said UBS had kept ServiceNow as its only buy-rated application software stock on the view it was better positioned than rivals in the AI era, but that conviction has weakened and instances of non-AI software budget pressure are increasing. UBS also flagged three specific concerns raised in customer discussions.

AI & Enterprise

Microsoft highlights rising Copilot AI usage amid concerns over AI investment

Microsoft posted $81.3 billion in revenue for the previous quarter, up 17 percent from a year earlier, but its shares fell amid investor concern over increased cloud investment. CEO Satya Nadella said usage of the company’s Copilot AI assistant is rising. TechCrunch reported Microsoft’s capital spending hit $88.2 billion in the last fiscal year and stands at $72.4 billion so far this year.