Rapid7, ServiceNow, and monday.com Shares Are Falling, What You Need To Know

Shares of Rapid7, ServiceNow, and monday.com fell after Bloomberg reported Anthropic's Q2 revenue topped $11.5 billion, suggesting AI tools are generating significant revenue and potentially impacting traditional software companies. This market reaction indicates concerns that AI tools could hollow out software bills, shifting budgets away from established platforms. The article also touches on monday.com's volatility and a previous market rally in the software sector due to easing geopolitical tensions and AI-driven M&A.