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, indicating that AI tools are generating significant income and putting pressure on traditional software companies. This market reaction suggests that fears of AI hollowing out software bills are proving true, leading investors to reconsider valuations for non-AI software companies. The article notes that despite recent market volatility and a previous rally fueled by easing geopolitical tensions and AI M&A, monday.com remains significantly down year-to-date and from its 52-week high.