Wall Street is concerned that advances in artificial intelligence will hurt enterprise software companies, so sales force CEO Marc Benioff told CNBC’s Jim Cramer that large language models are “just a commodity feature” that enhances the company’s products.
“All of these large language models are the same. We just want the lowest-cost model, and we plug it in,” Benioff told Kramer. “We have all the customer data. We have killer apps. They are not products.”
Large-scale language models (LLMs) are data-trained AI models that have a variety of functions such as data analysis, summarization, and chat bot services. The major hyperscalers, viz. google, microsoft OpenAI has poured billions of dollars into developing this technology.
Salesforce stock has had a rough year, even as the broader technology sector has grown rapidly. Wall Street’s concerns that AI could make some enterprise software products redundant are weighing down stocks. Salesforce stock has fallen more than 25% since the beginning of the year, but many are tech stocks. Nasdaq Composite This is an increase of over 21%.
In his interview with Cramer, Benioff did not discuss the company’s stock price decline in 2025, but suggested that investors who have “left” the company in the past year “somehow believe that software companies are under pressure from AI, even if the opposite is true.”
“Software companies are powered by AI and are leveraging AI,” Benioff continued.
Salesforce stock soared on Thursday after the company posted a big profit, with the stock ending up 3.66%. Although the earnings look a little brighter, Salesforce has revised up its revenue outlook for the current quarter.
Benioff touted the performance of Agentforce, the company’s product that automates sales and customer service workflows, over the past quarter. On the earnings call, he said annual revenue from Agentforce was more than $500 million, an increase of 330% from a year ago. Benioff also said on the conference call that Salesforce has closed more than 18,500 Agentforce deals in the year since the product’s introduction, 9,500 of which were paid deals.
“This is the fastest growing product in my history at Salesforce,” Benioff told Cramer.
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