Salesforce and Nvidia Earnings Defy AI 'Bear' Narratives

Jim Cramer stated that recent earnings reports from Salesforce and Nvidia dismantled bearish narratives surrounding both companies. [1][3]

Salesforce reported $11.35 billion in revenue and non-GAAP EPS of $5.90, exceeding the consensus. [3] Following the earnings report, Salesforce stock rose 22.69 percent over five sessions to close at $251.96. [3] Nvidia provided a strong forecast that indicated the artificial intelligence boom has further to run. [2]

Bears had argued that artificial intelligence agents would replace human workers, causing revenue losses for seat-based software companies like Salesforce. [3] Salesforce CEO Marc Benioff dismissed this theory, stating that artificial intelligence unlocks value rather than replacing the platform. [3]

Additionally, Salesforce formed a partnership with Anthropic on a product called Claudeforce, allowing users to compose emails and update records using Salesforce data. [1]

The strong financial performance from Salesforce and Nvidia counters the narrative that artificial intelligence will immediately cannibalize traditional seat-based software models. By integrating Anthropic's Claude to handle tasks like record updating, Salesforce is positioning AI as an add-on feature rather than an existential threat, directly challenging the "SaaSpocalypse" theory. Nvidia's robust forecast similarly pushes back against fears of custom chip competition slowing its momentum. What the sources don't address: How much of Salesforce's revenue growth was directly driven by new AI features versus traditional enterprise sales?