Salesforce Shares Soar as AI Strategy Pays Off with Strong Earnings

Salesforce shares have surged by 22.45% over the past week in response to strong earnings and growing confidence in its artificial intelligence strategy.

The software group reported an 11% year-on-year revenue growth to about $11.35 billion, exceeding Wall Street forecasts.

Non-GAAP earnings were also impressive, helped by gains from Salesforce's strategic stake in AI specialist Anthropic.

Management has lifted its full-year outlook, indicating robust demand for its core cloud software and data products despite concerns about slowing organic growth.

The rally has been driven by signs that AI is boosting rather than threatening Salesforce's customer relationship management business.