Salesforce’s stock got a much-needed boost on Wednesday after the software giant issued a strong new forecast, predicting a return to double-digit growth and brushing off fears that artificial intelligence will make its products obsolete.
The company said it now expects to bring in over $60 billion in revenue by 2030, a number that’s higher than what Wall Street was expecting. “We have had some lower-stage growth for a while,” said Robin Washington, Salesforce’s finance chief. “That is reaccelerating.”
The upbeat forecast is a direct response to a tough year for the company. Salesforce’s stock has been down nearly 30% this year, and investors have been worried that the rise of new AI tools that can automatically write software code could threaten its core business.
But CEO Marc Benioff pushed back hard against those fears. “There’s a certain amount of… nonsense that’s out there,” he said. “Like, for example, that these products are writing all the software, and that is not what’s happening.”
To drive its future growth, Salesforce is betting big on its own AI-powered software, Agentforce, which is designed to automate customer service. The company just announced a series of new partnerships with AI leaders like OpenAI and Anthropic to bring their powerful models into the Agentforce platform. It also recently launched a new voice feature that will allow its AI agents to answer customer service calls.
With these new AI-powered tools, Salesforce is hoping to prove to Wall Street that it can not only survive the AI revolution but also thrive in it.
