Salesforce shares fell 4.29% to a new 52-week low of $185.15 as "SaaSpocalypse" fears regarding AI's impact on subscription revenue hit the software sector. In response, the company announced the acquisition of Cimulate to accelerate its strategic pivot toward autonomous AI agents.
- The acquisition of Cimulate is designed to enhance the Agentforce Commerce suite, a key move by CEO Marc Benioff to defend the company’s enterprise market share.
- Alongside the acquisition, Salesforce recently reduced its workforce by 1,000 employees to streamline operations during this transition.
- The stock closed at $185.15, marking a fresh 52-week low amid investor concerns that emerging AI models may cannibalize traditional revenue streams.