CandleFocus Salesforce becomes latest to ride AI wave as Agentforce powers stock surge
2024-12-05
Author: Content Editor
Salesforce shares surged by 12% after its newly launched AI product, Agentforce, helped the company exceed sales estimates for the quarter. Analysts also cited the AI-integrated products as a factor in optimistic fiscal forecasts for 2025. The customer relationship management (CRM) software company's stock hit a record high, resulting in a potential addition of $35 billion to its market valuation. Other US tech companies in the cloud space also saw stock price increases. Salesforce's revenue forecast for 2025 increased slightly, and it beat analyst revenue estimates for the third quarter. Salesforce CEO, Marc Benioff, criticized Microsoft's Copilot AI product and highlighted the success of Agentforce. The company plans to hire 1400 new staff members in the fourth quarter to meet increasing demand.
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