Jim Cramer, the host of CNBC’s “Mad Money,” lauded Salesforce.com Inc. CRM for its innovative artificial intelligence product, Agentforce, and attributed the company’s stock surge to this development.
What Happened: On Monday, Cramer took to X to express his admiration for Salesforce’s Agentforce, calling it “pretty revolutionary.” He also noted that the stock’s significant rise was a logical outcome of this groundbreaking AI application.
“The best use of AI that I have seen and it makes sense that the stock has gone up so much,” he said.
Agentforce is an AI tool designed to automate various business functions, such as customer service, marketing, and order management. The product has been integrated with Salesforce’s Customer 360 platform, aligning with the company’s broader shift towards AI-powered business automation.
Why It Matters: Salesforce’s stock has been on a bullish run, driven by the success of Agentforce. The company’s shares soared following the announcement of plans to hire over 1,000 employees to support the sales push for Agentforce. This hiring expansion was in response to the “amazing momentum” for the AI tool, with positive customer feedback since its launch.
Moreover, a Golden Cross signal further fueled the stock’s bullish surge, indicating a strong uptrend. This signal, combined with the growing adoption of Agentforce by companies, has propelled Salesforce into fresh bullish territory.
Agentforce was launched in October and is a feature that enables companies to develop AI agents capable of autonomously performing tasks across various business functions. The product uses advanced reasoning to make decisions and execute actions, such as resolving customer inquiries and optimizing marketing campaigns.
Price Action: Salesforce stock closed at $341.73, up 6.14% for the day. In after-hours trading, the stock dipped 0.067%. Year-to-date, Salesforce has gained 33.42%, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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