Cloud-based software firm could lose $48bn in market value if losses hold, amid fear rival AI offerings are hampering demand
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.
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