Salesforce plummets as weak forecast sparks concerns of AI competition

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 $48bn 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 investor patience as the GenAI [generative AI] innovation cycle has yet to inflect top-lin ...