The Varosity AI GTM Report

ServiceNow's worst day ever, Amazon's cloud surge and ad slowdown, Reddit going logged-in only, Deepgram buying Pipecat's maker, an unlabeled gubernatorial deepfake, and Google opening Search to MCP apps.

Show Notes

ServiceNow fell nearly 27% in its worst day ever. Revenue beat estimates, but slower forward-bookings guidance was enough to sink it, and Fortinet dropped about 20% too. Amazon's AWS grew 39%, its fastest in nearly five years, while ad growth cooled to 11%, and Andy Jassy called outside shopping agents "still not great." Reddit grew revenue 53% and said it will move to a logged-in-only experience, as AI search cuts into its referral traffic. Deepgram is buying Daily, the maker of the open-source voice-agent framework Pipecat. Five days before the midterms, an unlabeled AI deepfake of Pennsylvania's governor is testing a state with no disclosure law. And Google opened Search and the Gemini app to apps built on MCP.

Today's stories:

  • ServiceNow's worst day ever: shares fell about 27% after Q3. Revenue was $4.11B (+20.5%) and the AI ACV target rose to $1.7B, but Q4 cRPO guidance of 18.5% missed and adjusted EPS fell 2 cents short. Fortinet fell about 20% after trimming its service revenue outlook. Yahoo Finance · Investing.com
  • Amazon: cloud surges, ads cool: net sales were $201.9B (+12%), and AWS grew 39% to $46.0B, with growth above 40% projected for 2027 and 2028. Advertising was $19.6B (+11%), with Q4 ad growth guided to the high teens. Jassy called outside shopping agents "still not great, nor more convenient than coming to a retailer directly." Amazon release · Fortune
  • Reddit goes logged-in only: revenue was $895M (+53%) and ad revenue $847M (+54%). Reddit will test a logged-in-only experience in select non-US markets in Q4, citing ad targeting and protecting its data corpus. Search referrals fell by more than 1M a week on average in October. Shareholder letter · Press release
  • Deepgram buys Pipecat maker Daily: Pipecat stays open source and vendor-neutral. Deepgram also launched the Real-Time Context Standard (RCS), an open protocol for voice agents. TechCrunch
  • An unlabeled deepfake in Pennsylvania's governor race: the Garrity campaign's ad features an AI-generated Gov. Josh Shapiro, with no watermark or on-screen label. Pennsylvania has no law banning political deepfakes or requiring a disclaimer. WESA / WPSU
  • Google's Connected Apps Platform (announced Oct 28): developers can bring cloud-hosted MCP servers or Android AppFunctions into Search and the Gemini app. More than 50 apps are already live, and access is opening in phases. Google

AI disclosure: this episode is AI-written and voiced by an AI host (Jack King) on Varosity.ai.

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What is The Varosity AI GTM Report?

Your daily ten-minute read on where AI meets go-to-market. Host Jack King breaks down the day's breaking AI news for sales, marketing, and revenue teams — generative video, voice and music models, AI agents, and the tooling that's reshaping how companies sell. Sponsored by Varosity.ai.