How did the Columbia Global Technology Growth Fund perform in Q1?

The fund posted a negative return of 6.05%, outperforming its benchmark which declined 6.57%.

ServiceNow (NOW) Stock Slides Amid Growing Adoption of AI-Native Solutions

ServiceNow (NOW) stock declined in Q1 2026, impacted by the market's growing preference for AI-native solutions. The Columbia Global Technology Growth Fund reported a -6.05% return, slightly outperforming its benchmark.

June 16, 2026

2 min read

Source: Insider Monkey

Key Numbers

fund return

-6.05%

index return

-6.57%

ServiceNow (NOW) stock slid during the first quarter of 2026, pressured by a market shift toward AI-native solutions, according to the quarterly investor letter from Columbia Threadneedle Investments' Columbia Global Technology Growth Fund.

Performance Details

The fund posted a return of -6.05% in Q1, marginally outperforming the S&P Global 1200 Information Technology Index, which declined -6.57%. Stock selection in software and services contributed to the relative outperformance.

Reasons for the Decline

The letter noted that ServiceNow's stock was affected by investor rotation toward companies offering native AI solutions, reducing demand for traditional software platforms. However, ServiceNow continues to integrate AI capabilities into its products.

Broader Context

The decline comes amid heightened volatility in the tech sector, with investors focusing on AI innovation leaders. ServiceNow has not yet provided formal guidance for the upcoming quarter.

What It Means for Investors

ServiceNow remains under scrutiny as its AI transition could determine future performance. Investors should watch upcoming quarterly reports to assess the impact of the company's strategy.

Frequently Asked Questions

The stock fell as investors shifted toward AI-native solution providers, reducing demand for traditional software platforms.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.