Salesforce Slumps Amid AI Fears Despite Record Revenue Target

Salesforce Inc., a leading software company, has set an ambitious revenue target of $63 billion for fiscal year 2030, surpassing analysts' estimates. Despite this strong outlook, the company's shares have declined over 8% in four sessions, with investors concerned about maintaining growth amidst rising competition from artificial intelligence tools.

The stock's recent global system outage during Dreamforce, a major conference, added to investor concerns about platform reliability and execution. UBS raised its price target for Salesforce to $260 but lowered its fiscal 2028 revenue growth estimate, indicating that reaching the $63 billion target may be back-end loaded.

AI remains a key question surrounding Salesforce's future growth, with the company highlighting efforts to incorporate AI into its platform while reassuring investors about emerging AI tools not undermining its existing software business. The partnership with AI startup Anthropic PBC has helped ease some investor concerns.