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SG Steve Grasso On CNBC's "Fast Money"

“They've been in the focal point of AI replacing them, but they are wired through all corporate systems. They're not a billboard. They're not a dashboard. They are integrated in every aspect of that corporation. … They're in the innards of the company, too hard to replace. I'd be a buyer.”

CNBC's "Fast Money" · October 2026

“They've been in the focal point of AI replacing them, but they are wired through all corporate systems. They're not a billboard. They're not a dashboard. They are integrated in every aspect of that corporation. … They're in the innards of the company, too hard to replace. I'd be a buyer.” — Steve Grasso, CNBC's "Fast Money"

Context

Asked about ServiceNow after its worst week on record, Grasso argues the sell-off prices in AI replacing enterprise software, but ServiceNow is too embedded in how companies run to be swapped out.

Listen to the episode → More from Steve Grasso →

Transcript

CNBC's "Fast Money" Around 26:51 into the episode
Speaker 2

go from smoke to dust. It's usually better to let the dust settle. I would not step in here and buy.

Speaker 3

All right. Next up, let's get to ServiceNow, riding a five-day losing street clocking in its worst week on record. Wow, look at that. 34% is a loss there for the week. Steve, what do you make of it?

Speaker 1

So their service, I'm sorry, their sub-revenue was actually up 21%. And we're talking about free cash flow. That to me is the holy grail. Their cash position actually got better. So they've been in the focal point of AI replacing them, but they are wired through all corporate systems. They're not a billboard. They're not a dashboard. They are integrated in every aspect of that corporation. It's not like a CRM for me. CRM is a dashboard that gauges everything and is agentic, but overseeing. They're in the innards of the company, too hard to replace. I'd be a buyer.

Speaker 4

Oh, you are.

Speaker 3

Okay. What do you make of this chart? Down 34% for the chart,

Speaker 4

right? It's just all shades. I mean, anything that in principle gets an aggressive re-rating

Speaker names come from our own diarization. The position is estimated from where the line sits in the episode.

More from CNBC's "Fast Money"

“The data center guidance that we're getting, they may not get built, right? And we might end up having a lot of inventory. There's been a lot of talk of late about channel stuffing as it relates to GPUs.” — Dan Nathan, CNBC's "Fast Money" “If we set aside Amazon stock and look at what Amazon said, this is probably the most bullish data point in AI over the past three or six months of all the data points that we get. … The fact that they went out two years, I can't remember when a company has given guidance out on a segment for two years. And I think that speaks to a confidence.” — Gene Munster, CNBC's "Fast Money"