Salesforce shares surge 11% to hit record high after AI boom fuels Q3 earnings; stock up 26% YTD

Salesforce Inc. shares hit a record high on Wednesday, December 4, after the customer relationship management software maker reported better-than-expected quarterly revenue, boosting hopes for the much-hyped artificial intelligence (AI) strategy. Salesforce provided an upbeat forecast for its newly launched AI-integrated products.

Salesforce hit a record high of $368.7, up 11 per cent in early morning trading and is set to add more than $35 billion to its market valuation of $316.85 billion if gains hold. The stock has gained about 26 per cent this year through the last close, and the new median price target of $380 represents an about 15 per cent upside.