Shares of technology companies rose as fears that artificial intelligence would wipe out demand for software-as-a-service were mitigated by one key earnings report.

May 21 : Workday exceeded Wall Street expectations for first-quarter revenue and profit on Thursday, as demand for its AI-powered finance and human resources software services…

Strong demand for agentic AI offerings helps Workday beat expectations and boost its stock price - SiliconANGLE

Workday's Q1 revenue of $2.54B and $2.66 EPS beat expectations as AI solutions near $500M ARR, sending shares up 10-14% and calming disruption fears.

Shares of technology companies rose as fears that artificial intelligence would wipe out demand for software-as-a-service were mitigated by one key earnings report.