Salesforce AI Agent Business Surges 205% but Contract Growth Lags

Salesforce's AI agent business is growing rapidly, reaching $1.2 billion in annual recurring revenue last quarter, up 205% year over year.

Agentforce, the company's suite of AI agents that complete tasks like resolving support cases and qualifying sales leads, has been given 3.8 billion tasks to date.

The growth is expected to continue, with management predicting an acceleration in overall growth due to increased adoption.

However, the value of signed customer contracts hasn't sped up yet, growing at a steady pace over the past two quarters.