Salesforce: Salesforce Shows Off AI Bona Fides and Launches AI Cloud During AI Day

Salesforce hosted its artificial intelligence event where the company discussed its AI strategy, advancements in generative AI technology, and some of its key solutions. Importantly, Salesforce made a variety of product announcements, none more important than AI Cloud, while advancing the theme of trust in its AI architecture. We have repeatedly highlighted that despite a lack of high-profile announcements (until today) related to generative AI, Salesforce has been a leader in artificial intelligence for years already. We appreciate the firm making the case loud and clear at the event. While we think AI Cloud supports our wide moat rating and will likely be additive to growth over the next few years, we do not think it necessitates a change in our model, especially given the uncertainty around generative AI.