Salesforce Stock Surges as CEO Dismisses 'SaaSpocalypse'

Salesforce's stock surged 14% in overnight trading after the company reported strong second-quarter results and exceeded expectations for full-year guidance. If the gains hold, it would be the stock's best day in six years.

CEO Marc Benioff dismissed the 'SaaSpocalypse' narrative surrounding artificial intelligence, saying that AI agents are driving greater use of enterprise software rather than replacing it. This pushback against a long-running Wall Street concern comes after the company delivered a blowout quarter.

Bienoff argued that the relationship between AI models and enterprise software is being misunderstood, pointing to rising usage of Salesforce's platform as evidence that AI is creating incremental demand. He noted that AI operators need Salesforce's tools and applications, saying 'Frontier models depend on CRM, they don't replace it.'