Federal AI contracts worth billions are flowing to enterprise software giants, and the ripple effects are reaching crypto-adjacent companies participating in the same government initiatives.
Enterprise software stocks are having a moment. ServiceNow jumped roughly 6% and Salesforce climbed about 4% as both companies continue to land major artificial intelligence contracts with US government agencies.
The deals driving the rally #
Salesforce’s crown jewel is a $5.6 billion, 10-year Indefinite Delivery Indefinite Quantity contract with the US Army, announced in January 2026. The deal focuses on AI-driven military modernization, customer relationship management, and integration of intelligent systems across defense operations.
ServiceNow announced AI-powered government reinvention deployments spanning nearly all 50 US states as of July 2026. Its OneGov platform, built on a FedRAMP High-authorized AI infrastructure, secured an agreement with the General Services Administration that offers substantial discounts on AI workflow tools to government buyers.
ServiceNow also bolstered its government AI capabilities through its earlier acquisition of Moveworks, which adds conversational AI features purpose-built for public sector use cases.
Earlier in June 2026, ServiceNow surged more than 9% and Salesforce gained roughly 5% amid shifting sentiment around OpenAI-related competitive risks.
Where crypto fits into the picture #
Both ServiceNow and Salesforce participate in the US Tech Force initiative, launched around December 2025, which aims to recruit skilled talent for federal AI projects. Crypto companies including Coinbase are also part of that same initiative. Robinhood, which straddles both traditional finance and crypto, is another participant in the Tech Force initiative alongside ServiceNow and Salesforce.
What this means for investors #
For traditional tech investors, companies with FedRAMP authorization, established government sales channels, and proven AI deployment capabilities are positioned to capture what looks like a multi-year spending cycle. ServiceNow’s FedRAMP High authorization, the most rigorous security standard for cloud services, gives it a competitive moat that newer entrants can’t easily replicate. The participation of Coinbase in the same federal talent initiatives as ServiceNow and Salesforce suggests that crypto firms are building institutional relationships with Washington that could eventually translate into their own government contracts.
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