FinancialContent: 'The Great Software Awakening' — ServiceNow Introduces 'Agentic ACV' as SaaS Sector Finds Bottom

FinancialContent·high signal

After 18 months of SaaS carnage that compressed forward P/E multiples to 22.7x (below S&P 500 average for the first time in the cloud era), the software sector recovery is underway. ServiceNow introduced 'Agentic ACV' — charging customers for tasks completed by AI agents rather than human login credentials — recovering nearly half its Q1 losses. Institutional buyers are aggressively rotating back into beaten-down cloud names as outcome-based revenue models prove viable.