Woofun AI data shows that ServiceNow’s AI business annual contract value surpassed $1 billion in the second quarter, while the count of customers deploying production-ready AI agents grew ninefold over the past nine months. The enterprise software firm reported subscription revenue of $3.9 billion, a 25% year-over-year increase that exceeded TD Cowen’s forecast of approximately $3.8 billion. Current remaining performance obligations reached $13.2 billion, surpassing the analyst firm's $13 billion estimate.

ServiceNow raised its full-year subscription revenue guidance to between $15.76 billion and $15.78 billion, with the upper bound matching TD Cowen’s projections. The company secured 123 net new transactions with annual contract values above $1 million, representing a nearly 40% year-over-year increase. This performance occurs despite a 50% decline in the company’s stock price over the past year, amid market concerns regarding generative AI substitution risks.

Concurrently, OpenAI launched "Presence" to assist enterprises in automating tasks such as customer service and IT support.