Salesforce plummets as weak forecast sparks concerns of AI competition
By Kanchana Chakravarty and Arsheeya Bajwa (Reuters) -Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm. The company could lose more than $48 billion in market value if losses hold, as it also reported quarterly revenue that was below expectations for the first time since 2006. “Weak bookings in Q1 further test … Read more…