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AI software stocks

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Platforms, data, applications

The companies selling AI-driven software to businesses: data platforms that feed models, applications that embed them, and the tools that monitor them in production. Exposure here is usually a share of revenue, not the whole business.

CompanyTicker
Palantir Technologies
Data and AI platform (AIP) for governments and enterprises.
PLTR
ServiceNow
Workflow platform adding AI agents across IT, HR and customer service.
NOW
Salesforce
CRM software with Agentforce AI agents.
CRM
Snowflake
Cloud data platform that feeds enterprise AI models.
SNOW
Datadog
Monitoring and observability, including for AI and LLM applications.
DDOG
Microsoft
Primary: Hyperscalers & Cloud
Azure AI infrastructure, the OpenAI partnership, and Copilot across its software.
MSFT
Alphabet
Primary: Hyperscalers & Cloud
Gemini models, Google Cloud AI services, and in-house TPU accelerators.
GOOGL
Oracle
Primary: Hyperscalers & Cloud
Oracle Cloud Infrastructure rents large GPU clusters to AI labs.
ORCL
Cisco Systems
Primary: Networking
Networking, security and observability (Splunk) for AI data centers.
CSCO

Companies whose primary category is elsewhere but that also belong here are listed with their primary tag.

How software companies earn from AI

Software companies sell what the models produce: agents that answer customer requests (Salesforce, ServiceNow), platforms that put a company's data in front of a model (Snowflake, Palantir), and tools that monitor AI applications in production (Datadog). Revenue here is subscription and consumption, so AI shows up as a faster growth rate or a new product line inside an existing business rather than as hardware orders.

Palantir is the exception: its AI platform is the whole company, so it is rated core. Salesforce and ServiceNow report AI contract value separately and it is under a tenth of revenue. Snowflake and Datadog report adoption metrics but no AI revenue at all. The honest description of this category is that AI is a share of revenue, and the share is disclosed only sometimes.

Editorial, written from the reported figures on each company page. Company names link to those pages: PLTR, NOW, CRM, SNOW, DDOG.

The numbers right now

Reported by the companies; each line links to the release or filing it comes from.

What to watch in software

  • Whether Salesforce and ServiceNow keep disclosing AI contract value each quarter, and the growth rate of that line against total revenue growth of 11% and 24%. source
  • Palantir's U.S. commercial remaining deal value ($6.2 billion, up 124%), the forward indicator for the only core-rated name here. source
  • Consumption trends at Snowflake and Datadog: AI workloads raise usage, and usage is what these two bill for. source

Latest 10-K, 10-Q and 8-K filings in Software

Source: SEC EDGAR