"Shares of Salesforce Inc. (NYSE: CRM) gained 16.65% over the past month after losing 10.69% the month prior. On the year, the stock is down 19.51%, and over the past year, CRM is down 22.12%. Amid that slump, the company's market cap has shrunk to $249.37 billion, with 1,551 institutional owners having decreased their positions compared to 1,397 increasing their positions."
"In June, CNBC reported that CEO Marc Benoiff said AI is now doing up to 50% of the workload at Salesforce, with the technology reaching about 93% accuracy. On May 27, it was announced that Salesforce is acquiring cloud data management company Informatica in an $8 billion deal. The company will be paying $25 per share of Informatica's Class A and Blass B-1 common stock."
"The company will be paying $25 per share of Informatica's Class A and Blass B-1 common stock. In March, Salesforce pledged a $1 billion investment in Singapore over the next five years, emphasizing that its flagship AI product - Agentforce - could help the country rapidly capped its labor force in key service and public sector industries at a time when the Asian nation is dealing with an aging population, reduced workforce and declining birth rates."
Salesforce's shares gained 16.65% over the past month after a 10.69% decline the prior month. The stock is down 19.51% year-to-date and down 22.12% over the past year. Market capitalization stands at $249.37 billion. Institutional ownership is nearly 83%, with 1,551 institutional owners reducing positions versus 1,397 increasing them. CEO Marc Benoiff stated AI now performs up to 50% of Salesforce's workload with about 93% accuracy. Salesforce agreed to acquire Informatica for $8 billion at $25 per share. The company pledged a $1 billion investment in Singapore and promotes its Agentforce AI product across key service and public sectors. Salesforce remains the largest cloud-based CRM provider.
Read at 24/7 Wall St.
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