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Markets2026-06-02 · source-backed
Snowflake's $6B AWS deal and revenue beat sent it up 46% in two sessions, Okta beat and jumped 30% (CNBC). Yet DigitalOcean is +227% YTD while HubSpot sits at -46% despite 23% revenue growth and 83% gross margins (SaaStr). The line is clear: infrastructure and security win, seat-priced application software loses.
Each link below shares sources, entities, or timing with this story.
IGV closed September 3 at $106.81, about 40% above its April low, and the index-level recovery from the $2 trillion drawdown is nearly complete (SaaStr). The winners are consumption-priced: CrowdStrike +83.4% YTD on $5.84B ARR growing 25%, Twilio +73.8%, Snowflake +73.1% on $1...
SaaStr's index recap shows the software basket green for 2026 with roughly 280 points of dispersion. DigitalOcean +227%, Datadog +76%, CrowdStrike +55%, Okta +41%, Twilio +33%. Against Klaviyo -52%, HubSpot -46%, Monday.com -45%, Zscaler -39%, Atlassian -36%. The split isn't b...
ServiceNow lost 18% in a single session on April 23. Worst trading day in the company's history. Salesforce dropped 9%. HubSpot, 9%. IBM, 8%. Adobe, 7%. Intuit, 7%. Oracle, 5%. The iShares Expanded Tech-Software ETF shed 5% across the board. CNBC This wasn't one company's earn...
IGV is down 24% in Q1. That's the worst quarter for software since 2008. But here's the number that stopped me cold: for the first time in modern history, software valuations have fallen below the S&P 500 multiple. SaaStr put the market cap destruction at roughly $2 trillion s...
HubSpot beat Q2 revenue at $912M, up 20%. Beat EPS at $3.26 against $3.02 expected. Its Data Agent is at 16,000 customers, up 80% quarter over quarter. Its Customer Agent resolves 72% of tickets without escalation. The stock had its largest one-day drop in 12 years on the NYSE...
Five months ago, Anthropic was running at $9B annualized. Today it's $30B. CNBC named them #1 on the 2026 Disruptor 50, above OpenAI for the first time. The numbers from Daniela Amodei's interview are hard to process. $1B run rate in December 2024. $9B end of 2025. $14B Februa...
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