Salesforce's AI Business Is Growing More Than 200%, but the Stock Is Near a 52-Week Low. Something Has to Give.

June 12, 2026 - 12:01

Investors appear to be betting against Salesforce despite a massive surge in its artificial intelligence business. The company reported that its AI-related revenue is growing at more than 200 percent year over year, a figure that would typically send a stock higher. Instead, shares of the software giant are hovering near a 52-week low, raising questions about what the market is seeing that the earnings report does not.

The disconnect seems to stem from a broader fear that AI will eventually replace the need for traditional customer relationship management software. Salesforce built its empire on tools that help salespeople track leads, manage accounts, and close deals. But with generative AI now capable of drafting emails, analyzing customer data, and even predicting buying behavior, some analysts worry that the company's core products could become obsolete.

Salesforce's latest quarterly results, however, tell a different story. The company beat expectations on both revenue and profit, and its AI offerings are not just growing fast but are also converting into real contracts. Executives pointed to strong demand for tools like Einstein GPT and the newly launched Data Cloud, which helps businesses unify their customer data for AI models.

Still, the stock price suggests that Wall Street is not convinced. The market may be pricing in the risk that Salesforce's growth will slow as competitors like Microsoft and startups like Gong push harder into AI-powered sales tools. There is also concern that the company's heavy investments in AI will squeeze margins before they pay off.

For now, Salesforce finds itself in an odd position. Its AI business is booming, but the stock is stuck. Something has to give. Either the market will eventually recognize the value of that growth, or the company will need to prove that its AI strategy is more than just a temporary boost. Until then, the gap between the numbers and the stock price remains a puzzle for investors.