Sridhar Ramaswamy, CEO of Snowflake, helps ring The Closing Bell at the New York Stock Exchange on Sept. 30, 2025.

NYSE

The " SaaSpocalypse " may not be over. But for now at least, fears of software's demise have cooled.

Software stocks soared this week, driven by strong results from Snowflake and Okta , signaling that some companies are navigating their way through artificial intelligence disruption better than Wall Street expected.

The iShares Expanded Tech-Software exchange-traded fund rose 8% this week and closed May up 21%, the best monthly performance for the ETF since October 2001.…