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76 stories mentioning SalesforceUpdated 17h ago

Its proposed $3.6 billion acquisition of AI agent platform Fin strengthens its customer-service AI strategy, adding talent and 30,000 customers, analysts say.

Update: Equities Tumble Following Fed's Divided Decision to Stay on Hold
US Markets

Update: Equities Tumble Following Fed's Divided Decision to Stay on Hold

(Updates with market moves at the end of the day and the Fed decision.)US stocks slid Wednesday after the Federal Reserve left interest rates unchanged in a divided decision, with some policymakers calling for policy tightening.The Dow Jones Industrial Average tumbled 2.2% to close at 51,594.14 after a three-day advance, while the Nasdaq Composite dropped 1.7% to 24,442.94, extending its losing streak to a sixth day. The S&P 500 shed 1.5% to settle at 7,316.15, its first decline in the past four sessions.Most sectors were in the red, led by industrials, while energy paced the gainers.The US central bank's Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. Three regional Fed presidents dissented from the majority at the meeting, with Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas preferring to raise interest rates by a quarter percentage point, the FOMC said Wednesday."With further upside risks stemming from the ongoing conflict overseas, several Fed members appear willing to raise rates, or at least increasingly aware of the dangerous nature of leaving a lower level of policy in place," Stifel said in a note.Treasury yields were mixed, with the two-year rate down 3.7 basis points at 4.24% and the 10-year rate surging 6.7 basis points to 4.67%.In commodities, West Texas Intermediate crude oil increased 6.8% to $84.63 a barrel in late Wednesday afternoon trade, while Brent gained 7.6% to $90.48.President Donald Trump reportedly told Fox News that the US will hit Iran hard after its Revolutionary Guard launched ballistic missiles at US forces.Switching to the corporate sector, VF (VFC) plunged 17% after the apparel and footwear company reported a wider-than-expected fiscal first-quarter loss.Procter & Gamble (PG) fell 1.9%. The consumer goods giant reported weaker-than-expected fiscal fourth-quarter sales and said higher costs could weigh on its fiscal 2027 earnings.Tech stocks were among notable gainers, with Salesforce (CRM) up 3.8%, the top performer on the Dow. Cognizant Technology (CTSH) jumped 11%, the third-best performer on the S&P 500. Workday (WDAY) and Intuit (INTU) also logged gains.Gold rose 0.5% to $4,050.46 per troy ounce, while silver gained 0.1% to $57.57 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$CTSH$INTU$PG$VFC$WDAY
Equities Lower Intraday Ahead of Fed Decision, Major Tech Earnings
US Markets

Equities Lower Intraday Ahead of Fed Decision, Major Tech Earnings

US benchmark equity indexes fell intraday as traders awaited the Federal Reserve's policy decision and after-hours results from Microsoft (MSFT) and Meta Platforms (META).The Dow Jones Industrial Average was down 1.5% at 51,977.6 after midday Wednesday. The S&P 500 and the Nasdaq Composite fell 0.7% each, to 7,378.4 and 24,698.9, respectively. Most sectors were in the red, with industrials posting the biggest drop.The Federal Open Market Committee will announce its latest decision on interest rates at 2 pm ET. The probability of the central bank leaving its benchmark lending rate unchanged was at about 69% on Wednesday, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Fed Chair Kevin Warsh is scheduled to hold a press conference at 2:30 pm."One way or another -- including, perhaps, through dissent - the Fed's emerging tightening bias will find its way into the market today or in the next few days," Macquarie said in a report Wednesday. "That bias may not be clear in the text of today's Statement, but Warsh's presser and the various speeches and appearances by Fed officials in the next few days are likely to solidify a tightening bias that was already evident -- even the FOMC's "doves" -- prior to the blackout period."Microsoft and Meta, among others, report their financials after market close on Wednesday.For Microsoft, analysts are looking for about 15% year-over-year revenue growth in the fiscal fourth quarter, according to the FactSet-polled consensus.Meta is expected to report strong second-quarter results as improvements in advertising performance continue to drive spending by advertisers, Deutsche Bank said in a note Friday.West Texas Intermediate crude oil increased 6.8% to $84.63 a barrel intraday, while Brent gained 7.6% to $90.48.President Donald Trump reportedly told Fox News that the US will hit Iran hard after its Revolutionary Guard launched ballistic missiles at US forces.Treasury yields were higher intraday, with the two-year rate up 5.5 basis points at 4.33% and the 10-year rate rising 4.3 basis points to 4.65%.Elsewhere in the corporate sector, Procter & Gamble (PG) fell 2.7% and was among the worst performers on the Dow. The consumer goods giant reported weaker-than-expected fiscal fourth-quarter sales and said higher costs could weigh on its fiscal 2027 earnings.Tech stocks were among notable gainers intraday, with Salesforce (CRM) up 3.9%, the top performer on the Dow. Cognizant Technology (CTSH) jumped 11%, the second-best performer on the S&P 500. Workday (WDAY) and Intuit (INTU) also logged gains.Gold rose 0.2% to $4,106.20 per troy ounce, while silver gained 1% to $58.11 per ounce.Price: $395.74, Change: $+2.39, Percent Change: +0.61%

Dow JonesNasdaq CompositeS&P 500$CRM$CTSH$INTU$META$MSFT$PG$WDAY
Japan

US Equity Markets Mixed as Oil Slides on Lull in US-Iran Strikes

US equity indexes were mixed Monday as crude oil declined on a lull in US strikes on Iran, while jitters over the AI trade increased.* The US paused military attacks against Iran over the weekend, while Tehran also refrained from retaliatory action, multiple media outlets reported.* New orders for US durable goods rose 0.3% in June following a decline of 4% in May, compared with expectations for an increase of 1.8% in a survey compiled by Bloomberg.* September West Texas Intermediate crude oil tumbled $7.33 to settle at $81.98 per barrel, while September Brent crude, the global benchmark, was last seen down $9.02 at $87.76.* Salesforce (CRM) shares rose 6.1%, the top gainer on the Dow, after the US Department of Veterans Affairs on Friday awarded the company, through its distribution network, a three-year $1.6 billion agentic enterprise license agreement.* Nvidia (NVDA) agreed to expand its partnership with South Korea's SK Group through an AI infrastructure initiative valued at more than $500 billion that will provide the US company with a stable supply of next-generation AI memory from SK hynix (SKHY). Separately, Nvidia is in talks to provide a $250 billion financial backstop for Microsoft-backed (MSFT) OpenAI as part of a massive data center project in southern Ohio, the Wall Street Journal reported Sunday. Nvidia's shares dropped 5%, the steepest decliner on the Dow.

Dow JonesNasdaq CompositeS&P 500$CRM$MSFT$NVDA$SKHY
Japan

US Equity Markets Mixed as Oil Prices Decline on Efforts to Mediate Peace Between US, Iran

US equity indexes were mixed Friday as crude oil declined amid China-backed Pakistani efforts to mediate peace between the US and Iran.* Pakistan is exploring a pathway to restart stalled peace negotiations between the US and Iran following a Chinese initiative, Reuters reported Friday, citing three Pakistani sources.* The July flash reading of manufacturing conditions from S&P Global slipped to 53.8 from 53.9 in June, compared with 54.4 expected in a survey compiled by Bloomberg.* August West Texas Intermediate crude oil fell $2.61 to settle at $89.58 per barrel, while September Brent crude, the global benchmark, was last seen down $3.47 at $97.22.* Salesforce (CRM) shares were up about 4.3%, the top gainer on the Dow, after the company said Friday the US Department of Veterans Affairs awarded the company, through its distribution network, a three-year $1.6 billion agentic enterprise license agreement.* C.H. Robinson Worldwide (CHRW) shares were down nearly 9.2%, among the worst performers on the S&P 500, after the company said a jury in Dallas County, Texas, issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier.

Dow JonesNasdaq CompositeS&P 500$CHRW$CRM
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 5.4%.The Philadelphia Semiconductor index dropped 4.7%.In sector news, President Donald Trump said Friday on Truth Social his administration is opening a Section 301 investigation into the EU over fines it has levied against companies including Apple (AAPL), Meta (META), Amazon.com (AMZN) and Alphabet's (GOOGL) Google. "The European Union will pay a very big price for this illegal and highly unethical conduct, which I have consistently warned them about," Trump said.In corporate news, Qualcomm (QCOM) told customers it is raising prices by a percentage in the double digits, Bloomberg reported, citing a copy of a letter it viewed. Qualcomm shares were down 2.7%.Oracle (ORCL) has secured a 10-year enterprise software contract worth about $7 billion with the US Department of Defense. Oracle shares were shedding 4.2%.Salesforce (CRM) shares gained 4.4% after it said Friday the US Department of Veterans Affairs awarded the company, through its distribution network, a three-year $1.6 billion agentic enterprise license agreement.SK Hynix (SKHY) and Samsung Electronics are set to sign large supply deals with US technology firms during President Lee Jae Myung's visit to San Francisco, several media outlets reported Friday, citing a senior presidential official. SK Hynix shares were down 9.2%.

$CRM$ORCL$QCOM$SKHY
Sectors

Sector Update: Tech Stocks Rise Premarket Friday

Technology stocks were rising premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.9% higher.Intel (INTC) stock was up more than 2% after the company reported that it swung to fiscal Q2 adjusted earnings as revenue increased during the period.Oracle (ORCL) won an enterprise software agreement from the US Department of War with a potential value of up to $7 billion over a 10-year term, the department said. Shares of Oracle were up more than 1% pre-bell.Salesforce (CRM) shares were up more than 1% after the company said the US Department of Veterans Affairs awarded the company, through its distribution network, a three-year $1.6 billion agentic enterprise license agreement.

$CRM$INTC$ORCL$XLK$XSD
Wire

Salesforce's Solid Agentforce Performance Yet to Drive Organic Growth Inflection, Morgan Stanley Says

Salesforce (CRM) has been disrupting its business to be in a better position for the agentic era, but solid Agentforce key performance indicators, or KPIs, have not yet driven an inflection in organic growth as its legacy portfolio drags continue, Morgan Stanley said in a note Tuesday.The investment firm said Salesforce shares will likely stay range-bound amid the absence of a significant growth inflection.The company's recent results indicated its AI momentum has been offset by a "deterioration and/or lack of upside to subscription revenue growth and visible forward-looking metrics," Morgan Stanley said.The investment firm said, however, that Salesforce is "one of the few scaled SaaS incumbents that appears to be actively trying to disrupt itself -- rather than defending only the legacy seat-based UI, management is decoupling the data, workflow, and action layers from its traditional application interface."The investment firm said that's likely the "correct move" because in an agentic world, the company will need to make its customer data, context, permissions, and workflow layer the monetizable surface.Morgan Stanley downgraded Salesforce to equal-weight from overweight and cut the company's price target to $185 from $287.Price: $171.51, Change: $-2.29, Percent Change: -1.31%

$CRM
Research

Morgan Stanley Downgrades Salesforce to Equalweight From Overweight, Adjusts PT to $185 From $287

Salesforce (CRM) has an average rating of overweight and mean price target of $237.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CRM
Research

KeyBanc Downgrades Salesforce to Sector Weight From Overweight

Salesforce (CRM) has an average rating of overweight and mean price target of $241.08, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CRM
Sectors

Sector Update: Tech Stocks Decline Premarket Wednesday

Technology stocks were declining premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.2% lower.Palantir Technologies (PLTR) entered a strategic partnership with SNP to develop artificial intelligence applications for corporate digital updates and automated data management, SNP said. Shares of Palantir Technologies were down more than 2% pre-bell.Meta Platforms (META) should resume negotiations over copyright payments with news publishers after complaints from the French Society for Related Rights of the Press and the French Alliance of General News Media, France's competition watchdog said. Meta Platforms stock was nearly 1% lower premarket.Salesforce (CRM) said the US Air Force's 441st Vehicle Support Chain Operations Squadron is using its Missionforce National Security platform to manage a $13.5 billion fleet of more than 84,000 vehicles across nearly 389 locations. Salesforce shares were down more than 1% pre-bell.

$CRM$META$PLTR$XLK$XSD
Wire

Salesforce Shares Rise After Guggenheim Upgrade

Salesforce (CRM) shares rose 5% in Wednesday trading after Guggenheim upgraded the stock to buy from neutral with a price target of $228.Trading volume stood at 8.1 million shares, compared with a daily average of 15.3 million.Price: $164.45, Change: $+7.79, Percent Change: +4.97%

$CRM
Research

Guggenheim Upgrades Salesforce to Buy From Neutral, Price Target is $228

Salesforce (CRM) has an average rating of overweight and mean price target of $242.38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CRM
Research

Phillip Securities Downgrades Salesforce to Neutral From Buy, Adjusts PT to $166 From $253

Salesforce (CRM) has an average rating of overweight and mean price target of $242.38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CRM
Research

Monness Crespi & Hardt Upgrades Salesforce to Buy From Neutral

Salesforce (CRM) has an average rating of overweight and mean price target of $247.77, according to analysts polled by FactSet.

$CRM
Update: Dow Logs Back-to-Back Record High in Mixed Session Ahead of Fed Decision
US Markets

Update: Dow Logs Back-to-Back Record High in Mixed Session Ahead of Fed Decision

(Updates with market moves at the end of the day.)The Dow Jones Industrial Average hit a fresh record high on Tuesday despite a sell-off in the technology sector, as the Federal Reserve kicked off its two-day monetary policy meeting.The Dow rose 0.6% to 51,999.7, notching a new closing high for a second straight day. The Nasdaq Composite fell 1.2% to 26,376.3, while the S&P 500 shed 0.6% to 7,511.4, the first decline in the past four sessions.Among sectors, financials paced the gainers, while tech saw the biggest drop.Among tech majors, Nvidia (NVDA) shares fell 2.4%, the biggest drop on the Dow, followed by Salesforce (CRM) and Microsoft (MSFT), respectively. On the S&P 500, Intel (INTC) was among the worst performers, down 8.5%.Markets widely expect the Fed to leave its benchmark lending rate unchanged Wednesday, which would mark the central bank's fourth straight pause, according to the CME FedWatch tool. The meeting is Kevin Warsh's first as Fed chair, who assumed the role last month, replacing Jerome Powell."The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," Stifel said in a note.The Fed is also scheduled to publish its latest Summary of Economic Projections, or SEP, document Wednesday. Stifel projects the Fed's "dot plot" to show most officials' expectations for a "stagnant" monetary policy for the rest of the year amid concerns over inflation.West Texas Intermediate crude oil was down 4.8% at $76.89 a barrel in Tuesday late-afternoon trade, while Brent dropped 4.2% to $79.66.The US and Iran recently agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.Analysts have flagged the possibility of implementation risks and potential disagreements.Iran is demanding Israel withdraw from Lebanon, CNN reported."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note.US Treasury yields were lower, with the 10-year rate down 4.6 basis points at 4.44% and the two-year yield falling 2.3 basis points to 4.06%.In economic news, US housing starts plummeted to the lowest level since 2020 in May amid a steep drop in multi-family projects, government data showed."There is little indication that US home building will break to the upside anytime soon, given high mortgage rates, previous overbuilding in the South, elevated new home inventories relative to sales, and the current depressed level of builder activity in the (National Association of Home Builders) survey," BMO Capital Markets said in a note.In company news, Space Exploration Technologies (SPCX) agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal worth about $60 billion, just days after the Elon Musk-led rocket and satellite company went public. SpaceX shares rose 4.8%, rising for the third straight day following its Friday debut.Olin (OLN) and Huntsman (HUN) agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue. Huntsman shares slid 17%, while Olin fell 5.9%.Gold was last seen up 0.1% at $4,355.10 per troy ounce, while silver was little changed at $70.16 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$HUN$INTC$MSFT$NVDA$OLN$SPCX
Update: Equity Markets Mixed Intraday as Fed Meeting Begins
US Markets

Update: Equity Markets Mixed Intraday as Fed Meeting Begins

(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday as the Federal Reserve's two-day monetary policy meeting got underway.The Nasdaq Composite was down 0.6% at 26,518.3 after midday Tuesday, while the S&P 500 fell 0.3% to 7,531.1. The Dow Jones Industrial Average rose 0.9% to 52,101. Most sectors were in the green, led by financials, while technology saw the biggest drop.Salesforce (CRM) shares were down 2.2%, the biggest drop on the Dow, followed by fellow tech majors Microsoft (MSFT) and Nvidia (NVDA), respectively. On the S&P 500, Intel (INTC) was among the worst performers, down 5.6%.Markets widely expect the Fed to leave its benchmark lending rate unchanged Wednesday, which would mark the central bank's fourth straight pause, according to the CME FedWatch tool. The meeting is Kevin Warsh's first as Fed chair, who assumed the role last month, replacing Jerome Powell."The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," Stifel said in a note. "There will also be an updated SEP, or Summary of Economic Projections, released with policymakers likely increasing both their expectations for inflation amid rising energy prices, as well as growth, reflecting a pickup in productivity amid a rapid and ongoing adoption of (artificial intelligence)."West Texas Intermediate crude oil was down 6.4% at $75.62 a barrel intraday, while Brent dropped 5.4% to $78.69.The US and Iran recently agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.US President Donald Trump vowed to publicly release the text of the agreement "in a couple of days," CNN reported Tuesday.Analysts have flagged the possibility of implementation risks and potential disagreements."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note.US Treasury yields were lower intraday, with the 10-year rate down 4.9 basis points at 4.43% and the two-year yield falling 3.2 basis points to 4.05%.In economic news, US housing starts plummeted to the lowest level since 2020 in May amid a steep drop in multi-family projects, government data showed."There is little indication that US home building will break to the upside anytime soon, given high mortgage rates, previous overbuilding in the South, elevated new home inventories relative to sales, and the current depressed level of builder activity in the (National Association of Home Builders) survey," BMO Capital Markets said in a note.In company news, Space Exploration Technologies (SPCX) agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal worth about $60 billion, just days after the Elon Musk-led rocket and satellite company went public. SpaceX shares were up 11% intraday.Olin (OLN) and Huntsman (HUN) agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue. Huntsman shares were down 17% intraday, while Olin fell 7.1%.La-Z-Boy (LZB) is scheduled to report its latest quarterly financial results after the closing bell Tuesday, along with others.Gold was little changed at $4,351.20 per troy ounce, while silver edged down 0.4% to $69.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$HUN$INTC$LZB$MSFT$NVDA$OLN$SPCX
Wire

Salesforce's Proposed Acquisition of Fin Highlights Growing Demand for AI Customer Service, Truist Says

Salesforce's (CRM) proposed acquisition of customer service platform Fin for $3.6 billion shows the growing importance of artificial intelligence-powered customer service tools and could provide a new growth driver for its Service Cloud business, Truist Securities said in a note Monday.The brokerage noted that Fin, formerly known as Intercom, recently surpassed $400 million in annual recurring revenue, with its AI customer service product generating more than $100 million in ARR.Truist said customer service automation remains one of the clearest use cases for AI agents and highlighted Fin's traction in the market, including capturing about 20% of customer experience software spending.The firm maintained its buy rating and $280 price target on Salesforce.Price: $164.75, Change: $-1.14, Percent Change: -0.69%

$CRM
Sectors

Sector Update: Tech Stocks Gain Monday Afternoon

Tech stocks jumped Monday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 4.1%.The Philadelphia Semiconductor Index surged 5.1%.In corporate news, Space Exploration Technologies (SPCX) revenue may surpass $1 trillion by 2031, CEO Elon Musk said Sunday on X. SpaceX shares jumped 14%.Micron Technology (MU) has room for its memory-chip upcycle to continue for another five to six quarters, supported by stronger pricing, robust generative AI demand and limited industry supply growth, RBC Capital Markets said, boosting its price target on the stock. Micron jumped 9.6%.Salesforce (CRM) agreed to acquire customer-agent company Fin for $3.6 billion to strengthen its own Agentforce AI-powered agent platform. Salesforce shares rose 0.1%.

$CRM$MU$SPCX
Wire

Salesforce's $3.6 Billion Fin Acquisition Strengthens AI Strategy, Wedbush Says

Salesforce's (CRM) planned $3.6 billion acquisition of AI agent platform Fin strengthens its AI strategy by adding advanced customer-service AI capabilities, a specialized AI team and more than 30,000 customers, Wedbush said in a report Monday.The deal also enhances Saleforce's Agentforce platform by providing new ways to deploy AI agents across customer-service operations, the report said.Fin's proprietary AI model, Apex, complements Salesforce's CRM offerings by enabling enterprises to resolve complex customer queries end-to-end, with its AI agents resolving about 76% of such requests, the analysts said.The acquisition also underscores Salesforce's increasingly "aggressive" use of M&A to expand its AI and data capabilities. With roughly $12 billion on the balance sheet and three acquisitions valued at more than $1 billion completed over the past year, the company is continuing to build out its AI ecosystem to meet growing enterprise demand for agentic AI solutions, the Wedbush analysts said.Wedbush maintained an outperform rating and $325 price target on Salesforce shares.Price: $168.13, Change: $+2.24, Percent Change: +1.35%

$CRM
Salesforce to Buy AI Agent Platform Fin for $3.6 Billion
US Markets

Salesforce to Buy AI Agent Platform Fin for $3.6 Billion

Salesforce (CRM) agreed to acquire customer-agent company Fin for $3.6 billion to strengthen its own Agentforce AI-powered agent platform.Salesforce said it expects Fin's packaged offerings and proprietary models to complement Agentforce with features designed to be deployed quickly. Fin's AI Agent, powered by the company's proprietary Apex model, is built to resolve customer queries across channels including live chat, email, WhatsApp, SMS, phone, and Slack."Fin brings proven agent technology, a deep commitment to customer success, and an incredible AI team that will complement Agentforce with powerful service agent capabilities," Salesforce CEO Marc Benioff said Monday in a statement.Agentforce generated $1.2 billion in annual recurring revenue in the first quarter of fiscal 2027, tripling from a year earlier, Salesforce said.The transaction, which requires regulatory approval, is expected to close in the fourth quarter of Salesforce's fiscal 2027. Salesforce said it does not expect the deal to affect its full-year guidance or capital return program.After the acquisition closes, Salesforce and Fin plan to offer customers more ways to deploy AI agents across service operations. The deal is expected to bring Fin's AI team and its customer base of more than 30,000 companies to Salesforce.The deal will allow Fin to deploy its technology "far and wide at a rate far faster than we could have ever achieved on our own," CEO Eoghan McCabe said.Last month, Salesforce lifted its full-year adjusted earnings outlook after recording fiscal first-quarter results above Wall Street's estimates.Salesforce's shares rose 1% in Monday trading. They have dropped 37% this year.Price: $167.65, Change: $+1.76, Percent Change: +1.06%

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