--- title: "ServiceNow否认收购Decagon，股价反涨5%" description: "Decagon已聘请投行，拟按45亿美元的估值寻找买家，而相关报道点名的买家却公开说了“不”。否认之后，ServiceNow股价大涨5%，Salesforce上涨4%：市场犒赏平台承诺自建AI智能体，而非出手收购。" publisher: "The Inference" section: "Deals" published: 2026-10-17T13:17:38.135Z modified: 2026-10-17T13:17:38.135Z canonical: https://theinference.org/article/servicenow-said-no-to-buying-decagon-and-got-paid-5-for-the-answer/zh-CN language: zh-CN keywords: "ServiceNow, AI Agents, M&A, Software, Markets" --- # ServiceNow否认收购Decagon，股价反涨5% > Decagon已聘请投行，拟按45亿美元的估值寻找买家，而相关报道点名的买家却公开说了“不”。否认之后，ServiceNow股价大涨5%，Salesforce上涨4%：市场犒赏平台承诺自建AI智能体，而非出手收购。 [Decagon](https://theinference.org/markets/companies/decagon)是一家AI客服智能体公司，由Jesse Zhang和Ashwin Sreenivas于2023年7月创立。在[与ServiceNow等多家公司有过早期洽谈](https://b17news.com/ai-agent-company-decagon-has-held-early-ma-talks-and-hired-a-banker/)之后，Decagon已[聘请投行评估收购意向](https://theinference.org/article/decagon-hires-a-bank-and-the-takeout-math-starts-near-13-billion)[1]。[ServiceNow](https://theinference.org/markets/companies/servicenow)发言人表示，相关洽谈目前并未进行[1]；总裁[Amit Zavery](https://theinference.org/markets/people/amit-zavery)[更在10月13日进一步公开表态](https://www.pymnts.com/news/acquiring/2026/servicenow-denies-reports-of-takeover-interest-in-ai-agent-startup-decagon/)：“需要明确的是，ServiceNow无意收购Decagon，也没有这个打算。”他还表示，公司不存在“需要通过大规模收购来弥补的重大战略缺口”[2]。 ## 两天盘面为ServiceNow的拒绝买单 出售报道出炉当天，即10月13日，ServiceNow股价下跌1.22%，报138.61美元[3]。否认之后，ServiceNow[于10月15日大涨5%，报146.93美元](https://finance.yahoo.com/markets/stocks/articles/servicenow-climbs-5-denying-decagon-165800936.html)，[Salesforce](https://theinference.org/markets/companies/salesforce)上涨4%至245.39美元，[Palantir](https://theinference.org/markets/companies/palantir)微跌0.9%；纳斯达克指数走低之际，软件板块基金IGV仅上涨0.9%[4]。市场出钱让平台许下承诺：自建智能体，而不是收购。 ## 已成交的退出交易，买家另有其人 [英伟达](https://theinference.org/markets/companies/nvidia)今年8月同意[以129亿美元收购Hugging Face](https://techcrunch.com/2026/08/26/nvidia-closes-in-on-hugging-face-acquisition/)，后者年收入约1.5亿美元[5]。[Stripe](https://theinference.org/markets/companies/stripe)同意[以超过80亿美元收购OpenRouter](https://www.forbes.com/sites/janakirammsv/2026/08/19/stripe-bets-over-8-billion-on-openrouters-ai-model-traffic/)[6]。Decagon今年1月融资2.5亿美元，估值定在45亿美元，约为其8月份1亿美元年化收入的45倍[1][2]。公司累计融资超过4亿美元，投资方包括安德森·霍洛维茨、Index Ventures、贝恩资本风险投资（Bain Capital Ventures）和Accel，如今已失去锚定买家[1]。由Salesforce前联席CEO布雷特·泰勒执掌的Sierra，估值已达158亿美元[7]。 *Chart: **Decagon 45亿美元估值，低于周边所有AI退出交易** 条形图，比较四家AI公司的价格：Decagon为45亿美元，OpenRouter为80亿美元，Hugging Face为129亿美元，Sierra为158亿美元。* *OpenRouter（Stripe交易）与Hugging Face（英伟达交易）为已敲定的成交价；Decagon与Sierra为最新公布的一级市场估值。单位：十亿美元。 [1][5][6][7]* ## 收购已在侵蚀ServiceNow的利润率 2025年以来，ServiceNow已宣布超过110亿美元的收购案：Armis作价77.5亿美元，[Moveworks](https://theinference.org/markets/companies/moveworks)作价28.5亿美元，Veza作价12.5亿美元，Logik.io作价5.06亿美元[3]。Armis交易曾令股价受挫，此后六个月已反弹55%[1]。二季度业绩已显现压力：营收增长24%至39.9亿美元，营业利润却下滑55%至1.62亿美元[8]。 *Chart: **内生引擎仍在运转：二季度营收增长24%** 柱状图，ServiceNow季度营收自2024年三季度至2026年二季度从28亿美元增至40亿美元。* *ServiceNow季度营收，按日历季度，单位：十亿美元，数据来自其向美国SEC提交的文件。市场对10月28日财报的一致预期为40.9亿美元。 [8]* ## 否认是表态，不是出售流程的终点 [杰富瑞](https://theinference.org/markets/companies/jefferies)对ServiceNow维持买入评级和140美元目标价，分析师Samad Samana认为，Decagon将增强ServiceNow的客户服务管理产品线 [3]。而ServiceNow自家的智能体工具早已上线，包括Now Assist和AI Control Tower [4]。这轮出售流程中还牵涉其他早期接洽；如果都谈不成，Decagon将转而启动新一轮融资 [1]。 ## 财报将为承诺定价 ServiceNow将于10月28日发布三季度财报，市场一致预期当季营收40.9亿美元，同比增长20%，调整后每股收益为1.02美元 [3]。市场已经用单日5%的涨幅为承诺买了单，接下来就看这份财报能否兑现。下一个等着买家出现的，是Sierra 158亿美元的估值。 ## Takeaway ServiceNow公开拒绝收购Decagon，股价上涨5%，Salesforce同涨4%：市场用上涨奖励平台自建AI智能体而非外购，10月28日发布的财报如今必须兑现这份承诺。 ## Sources 1. [B-17 (Business Insider syndication), "AI agent company Decagon has held early M&A talks and hired a banker," October 2026](https://b17news.com/ai-agent-company-decagon-has-held-early-ma-talks-and-hired-a-banker/) 2. [PYMNTS, "ServiceNow Denies Reports of Takeover Interest in AI Agent Startup Decagon," 13 October 2026](https://www.pymnts.com/news/acquiring/2026/servicenow-denies-reports-of-takeover-interest-in-ai-agent-startup-decagon/) 3. [Stocktwits via Yahoo Finance, "ServiceNow Denies Decagon Acquisition Interest - Analyst Says Investors Wary After NOW's M&A Spree," 14 October 2026](https://finance.yahoo.com/markets/stocks/articles/servicenow-denies-decagon-acquisition-interest-065635358.html) 4. [24/7 Wall St via Yahoo Finance, "ServiceNow Climbs 5% After Denying Decagon Acquisition Interest; Salesforce Rises 4%, Palantir Dips," 15 October 2026](https://finance.yahoo.com/markets/stocks/articles/servicenow-climbs-5-denying-decagon-165800936.html) 5. [TechCrunch, "Nvidia closes in on Hugging Face acquisition," 26 August 2026](https://techcrunch.com/2026/08/26/nvidia-closes-in-on-hugging-face-acquisition/) 6. [Forbes, "Stripe Bets Over $8 Billion On OpenRouter's AI Model Traffic," 19 August 2026](https://www.forbes.com/sites/janakirammsv/2026/08/19/stripe-bets-over-8-billion-on-openrouters-ai-model-traffic/) 7. [PYMNTS, "OpenAI Veteran Raises $950 Million for AI Customer Service Agents," 4 May 2026](https://www.pymnts.com/news/investment-tracker/2026/openai-veteran-raises-950-million-for-ai-customer-service-agents/) 8. [ServiceNow, quarterly figures from its SEC filings, retrieved 17 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001373715) --- ServiceNow否认收购Decagon，股价反涨5% — The Inference. Canonical: https://theinference.org/article/servicenow-said-no-to-buying-decagon-and-got-paid-5-for-the-answer/zh-CN