The structural problem ServiceNow and Microsoft now face is that every positive AI disclosure tightens the case against their current business model. McDermott's earnings call was designed to reassure: revenue beat, guidance raised, AI product revenue climbing toward $1.5 billion. Instead, the blowout AI numbers preceded the stock drop that erased gains built over months. The AI productivity argument — that existing workers would absorb more work rather than the company hiring more — was the specific signal the market read as future seat compression. A workforce made more productive…