US Stock Market Move | Some AI application software stocks continue to rise, with Elastic (ESTC.US) soaring over 24% after its earnings report.

On Friday, some AI application software stocks in the U.S. continued to rise, with Elastic (ESTC.US) soaring over 24% after earnings, Applovin (APP.US) increasing nearly 4%, and Salesforce, Inc. (CRM.US) and ServiceNow (NOW.US) both rising close to 2%. In terms of news, software company Elastic reported its latest earnings that exceeded expectations, with total revenue of $478 million, a year-on-year increase of 15%; remaining performance obligations amounted to $1.854 billion, growing 27% year-on-year. Elastic's CEO Ash Kulkarni stated, "Elastic has had a strong start in fiscal year 2027, exceeding our guidance across all key metrics. AI is reshaping the enterprise technology stack, and organizations are consciously choosing where to build and how to observe and protect their applications and data. Our record quarterly net customer growth, reaching the>$100k ACV group, along with the continued strong growth in cRPO and RPO, reflects the durability of this demand. As we began the year, we saw increasing momentum in the search, AI, security, and observability sectors, and we are confident in our business development."