Salesforce announced a revenue projection of over $63 billion for fiscal 2030 during its Dreamforce conference, exceeding analyst expectations of $59.2 billion according to LSEG polling data.
The software company has experienced significant market volatility following concerns about artificial intelligence disrupting its business model, a narrative that gained prominence earlier this year. However, Salesforce demonstrated resilience in its most recent earnings report by delivering results that beat expectations and providing an optimistic outlook. CEO Marc Benioff characterized the current period as a transformative moment for enterprise software, drawing leading figures from the AI industry to speak at the conference, including executives from OpenAI, Anthropic, and Nvidia.
Salesforce’s recent financial performance benefited substantially from a $2.6 billion gain tied to strategic investments in Anthropic, driving its stock to appreciate nearly 23%, marking its strongest performance since 2020. The company introduced Claudeforce, enabling organizations to access Salesforce data within Anthropic’s Claude platform, and unveiled an AI reasoning model called Koa developed in partnership with Nvidia. Patrick Stokes, president of applications and marketing, indicated that up to 1,000 clients have enrolled in the beta program. Additionally, Slack, which Salesforce acquired for $27.1 billion in 2021, has evolved into a communications channel for AI agents, according to Alexa Vignone, the company’s president and chief revenue officer.
During the conference, Miguel Milano, Salesforce’s operating chief, stated the company would discontinue using the term associated with software industry concerns, signaling confidence in market recovery. Salesforce has deployed $60 billion cumulatively on share repurchases, taking advantage of depressed stock prices earlier in the year. The shares traded above $250 by the end of the conference session. Benioff indicated that Salesforce’s investment in Anthropic stock could potentially be worth tens of billions of dollars and suggested the company may eventually divest the position to address accelerated share repurchase obligations.
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