Jan 29 (Reuters) - U.S. software stocks fell on Thursday after SAP's underwhelming cloud outlook and a post-earnings slide in ServiceNow deepened concerns that traditional providers are being outpaced by artificial-intelligence players.
Germany's SAP plunged more than 16% as analysts flagged that its cloud backlog and 2026 revenue forecast fell short of projections. ServiceNow dropped 11% despite forecasting annual subscription revenue above Wall Street estimates.
