ServiceNow Beats Salesforce in AI Race

ServiceNow posted 24% revenue growth with AI ACV crossing $1 billion, while Salesforce grew 11% with Agentforce ARR at $1.5 billion. ServiceNow's NVIDIA partnership on Project Arc and its cross-platform system of action give it a structural edge in agentic AI. Salesforce trades at a cheaper forward P/E of 19 with a $25 billion buyback, making it attractive for value investors. ServiceNow's 98% renewal rate and shift to non-seat pricing signal readiness for agentic scale, but margin compression remains a risk to watch.