Salesforce, Inc. (CRM)[Tv]

Key Developments

• Salesforce secures a landmark $13.5 billion contract with the U.S. Air Force to deploy its Missionforce National Security platform, replacing legacy ERP systems with an AI-powered, IL5-authorized CRM ecosystem managing 84,000 vehicles across 389 locations—marking a pivotal shift in CRM’s role as mission-critical national infrastructure.
• Salesforce completes its $27 billion acquisition of Slack, embedding real-time collaboration into the core customer lifecycle and redefining CRM as an enterprise operating system, signaling a transformative step toward unified, intelligent workflows.
• Salesforce announces a $1 billion investment in Switzerland to accelerate agentic AI development, underscoring a strategic pivot toward autonomous, AI-native CRM systems and reinforcing its long-term leadership in next-generation customer engagement.
• Salesforce’s $3.6 billion acquisition of Fin (formerly Intercom) accelerates its AI-native pivot, positioning the company at the center of a new era in autonomous CRM and directly challenging legacy seat-based SaaS models.
• Guggenheim upgrades Salesforce to “Buy”, not on AI growth or product momentum, but due to its extreme undervaluation—trading at just 3.7x EV/recurring revenue and 11x EV/FCF—suggesting the market has priced in a catastrophic worst-case scenario.