Last week belonged to Israel's chip companies: Nova, Camtek and Tower posted record quarters just as chip stocks plunged on Wall Street. This week it is the turn of software and services companies, and they arrive against a very different backdrop: investor fear that AI threatens some of their revenue models.
First up is monday.com, reporting third-quarter results tomorrow, Monday. In July it announced a cut of about 20% of its workforce as part of a shift to AI, saying it would reinvest most of the savings in people, product and AI. Investors will want to see two things: whether growth is holding, against its earlier 2026 outlook of 19% to 20%, and whether its AI products, led by its agent platform, are starting to generate revenue. monday.com charges per user, which makes it exactly the kind of company investors worry about.
On Tuesday the Tel Aviv Stock Exchange reports, and on Wednesday Nayax, the payments company for vending machines and retail. On Thursday comes Cellebrite, which builds tools to extract and analyze data from phones for law enforcement. With Cellebrite, watch the shift to cloud and the use of AI to analyze digital evidence, areas where the company positions itself as part of the trend rather than threatened by it.
Beyond each company, the week will test a broader question. Last week the gap was clear: JFrog jumped because it is seen as an AI beneficiary, and Atlassian fell because it is seen as threatened. Investors' reaction to monday.com's and other Israeli software companies' results will show which side of that line the market places them on. And the week after, on November 17, Nvidia reports, which will move all tech stocks.
