Workday (WDAY) and HubSpot (HUBS) Shares Climb as AI Software Rebound Continues

Workday and HubSpot shares advanced in afternoon trading May 29, extending a software-sector rally fueled by strong earnings that deflated fears of an "AI-driven collapse." Snowflake surged 36% on May 28—a record single-day gain—after reporting AI accounts more than doubled and product revenue grew 34%. Dell’s results that evening added momentum: AI server revenue hit $16.1 billion, up 757% year-over-year, with a $51.3 billion backlog. Workday added to its 4.7% rise the prior day. The company remains down 28.8% in 2026 at $146.44, 42.1% below its June 2025 high of $252.90. A supporting macro force, the 10-year Treasury yield slipped to 4.45% on a US-Iran truce extension, also favored growth equities.