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Enterprise data management company Informatica is not currently in talks to be acquired, the company said Monday, after earlier reports suggested that Salesforce was interested in a roughly $10 billion deal. Informatica shares slumped more than 7% on the news, while Salesforce shares rose around 1%. The acquisition would have been Salesforce's largest since the 2021 deal to purchase Slack. Salesforce's investors also reacted negatively to the idea of the deal, sending shares down more than 7% when news of the potential purchase first broke. Salesforce CEO Marc Benioff's voracious appetite for mergers and acquisitions was one of the factors that drew a flurry of activists in 2023 seeking to rein in the company's spending.
Persons: Salesforce, Slack, Amit Walia, Marc Benioff's Organizations: Informatica, Street
"The V2MOM had nothing about generative AI," Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. Harris, a Salesforce board member and now the technology chief of Slack, which Salesforce bought in 2021, said he'd rather avoid the limelight. Without the Data Cloud, Harris told CNBC, "I think we would have been in a much worse place." He told Benioff he'd redo the plan, the person said. They'll be talking more frequently, as Harris said they're about to kick off weekly meetings on Slack and Salesforce integrations.
Persons: Parker Harris, Marlena Sloss, Marc Benioff, ChatGPT, Benioff, Salesforce, Harris, Slack, he'd, Sam Altman, Noah Berger, Robin, Batman, Frank Dominguez, Dave Moellenhoff, Bobby Yazdani, Larry Ellison, Yazdani, Dominguez, Brett Queener, who's, Queener, Salesforce.com, He's, Ruth Asawa, Josef Albers, Miles Davis, Donald Trump, Jason Alden, Marc, Kara Swisher, David Paul Morris, Adam Selipsky, it's, Stewart Butterfield, Lidiane Jones, Cal Henderson, Benioff's, Parker, Noah Weiss, Denise Dresser, Weiss, Parker Harris emoji, They'll, Salesforce integrations, Stefan Slowinski Organizations: Salesforce, Bloomberg, Getty, CNBC, Google, Microsoft, Middlebury College, Apple, San, San Francisco Bay Area, Metropolis Software, Software, Saba Software, Oracle, San Francisco's Telegraph, YouTube, Facebook, Economic, Salesforce.com Inc, Web, VMware, Employees Locations: San Francisco, Silicon Valley, English, Vermont, North Carolina, San Francisco Bay, Moellenhoff, Kincaid's, Burlingame, San Francisco's, Salesforce, France, Italy, Nantucket, San, Pacific, Davos, Switzerland, Cliff, New York, Las Vegas, Hawaii
Here are the top AI picks for 2024 from Baird
  + stars: | 2024-03-05 | by ( Lisa Kailai Han | ) www.cnbc.com   time to read: +3 min
To try and offer up some alternate names, Baird released an updated 2024 edition of its stock picks targeting top ideas in artificial intelligence and machine learning in a 34-page report out Tuesday. "While the implications of AI vary across sectors, we collectively believe the AI tidal wave is still in the early innings," a team of analysts led by Tristan Gerra wrote. Another name Baird recommended was cloud cybersecurity firm Cloudflare , which surged last month after topping analyst expectations in its fourth quarter. "Though AI's impact on NET's revenue is still unfolding, the company is strategically positioning itself for the shift from AI training to inference," wrote Baird analyst Shrenik Kothari. "Cloudflare's focus on connectivity for AI applications and the optimization of its network for diverse AI use cases showcases its commitment to facilitating AI adoption and exploring new monetization avenues as the AI landscape evolves."
Persons: Baird, Tristan Gerra, Pinterest, Colin Sebastian, BofA, Shrenik Kothari, Marc Benioff's, Goldman Sachs, Goldman, Kash Rangan, — CNBC's Michael Bloom Organizations: Nasdaq, Nvidia, Micro Computer, Apple, Bank of America, Wall Street, TAM
The cuts will affect around 700 employees, The Wall Street Journal reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The layoffs are the latest in a wave of cuts sweeping the tech industry this month. More than 20,000 tech workers across 80 companies have been affected by job cuts in the first month of the year, according to tracker Layoffs.fyi . January is historically a common month for layoffs as companies adjust budgets and plans for the new year.
Persons: Salesforce, , Marc Benioff's, Sundar Pichai Organizations: Street Journal, Service, Business, Industry, Google, Tech
Benioff says he sleeps eight hours a night and meditates for up to an hour a day. Benioff said that he averages about eight hours of sleep a night. Though some business leaders swear they can survive on half the amount of sleep, Benioff isn't one of them. Asked about the entrepreneurs who say they get only four hours of sleep a night, Benioff quickly batted the idea down. Benioff also has a strict meditation routine that he's been dedicated to since 1992, according to GQ.
Persons: Marc Benioff's, Benioff, , Marc Benioff, Jack Dorsey, Indra Nooyi, Jeff Immelt, Barack Obama, Donald Trump Organizations: GQ, Service, Pepsico, General, SFGate, San Locations: San Francisco, Plum Village, France
OpenAI staff reportedly celebrated Sam Altman's return with a party on Tuesday night. Dozens of OpenAI employees also took to social media to celebrate Altman's return. AdvertisementOpenAI employees celebrated Sam Altman's return on Tuesday night — and apparently some fire trucks even got involved. Altman's return comes after a five-day saga in which OpenAI ousted Altman with little public explanation and went through two more CEOs. "It's not just that we're so back," one X user @yonashav, who claims to work for OpenAI wrote.
Persons: Sam Altman's, , OpenAI, Altman, Greg Brockman, " Brockman, YcKwkqdNs5 — Greg Brockman, Altman's, It's, I've, @clarkcr, Marc Benioff's, @stevenheidel, 57Vum0mSxM — Steven Heidel, Mira Murati, Emmett Shear, Shear Organizations: Service, Staff, Twitter, OpenAI Locations: San Francisco, OpenAI
Denise Dresser, a longtime Salesforce exec, will become the new CEO of Slack. AdvertisementAdvertisementSalesforce CEO Marc Benioff said Monday that Slack had named Denise Dresser as its next chief executive. Dresser, who has worked for Salesforce for 12 years, is president of accelerated industries at Salesforce. Salesforce said in August that its chief people officer, Brent Hyder, would leave to "pursue a new opportunity." To contact Ellen Thomas with insight or information about Slack or Salesforce, reach out at ethomas@insider.com or call/text (646) 847-9416 using the encrypted-messaging app Signal.
Persons: Denise Dresser, Slack, Lidiane Jones, Marc Benioff, , She'll, who's, Dresser, Denise, Benioff, Jones, Whitney Wolfe, Stewart Butterfield, Bret Taylor, Mark Nelson, Gavin Patterson, Ebony Beckwith, Salesforce, Brent Hyder, Salesforce's, Vikram Rao, Ariel Kelman, Oracle's, Ellen Thomas Organizations: Bumble Inc, Service, Salesforce, Elliott Management Locations: Salesforce
While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.
Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, , Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL
Enterprise software giant Salesforce (CRM) has been trudging through a challenged stretch of trading lately — but it's certainly no justification for a Wall Street downgrade, Jim Cramer said Monday. Salesforce appears well-positioned on both sales growth and profitability, even if some on Wall Street question its ability to deliver a growth mix on par with its software peers. Alongside its fiscal 2024 second-quarter results in late August, Salesforce tweaked its full-year revenue guidance to a level slightly above Wall Street consensus estimates at the time, implying nearly 11% year-over-year growth. However, the firm said Club holding Microsoft (MSFT) is still its favorite large-cap software stock to own into year-end, citing AI catalysts. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: it's, Jim Cramer, Piper Sandler, Salesforce, Jim, Marc Benioff, Jim Cramer's Organizations: Enterprise, Club, Microsoft, CNBC, Bloomberg, Getty Locations: Salesforce, ASAN, San Francisco
Salesforce's CEO opened up about remote work, saying that he doesn't "work well in an office." His comments come after Salesforce mandated some of its workers to return to the office. I've always been a remote worker my whole life," Benioff told MSNBC last week during Salesforce's annual Dreamforce conference. AdvertisementAdvertisementLike many companies, Salesforce embraced remote work during the pandemic. In June, Salesforce incentivized workers to return to the office by offering a $10 charity donation for each day an employee worked in person.
Persons: Marc Benioff, I've, Benioff, Brent Hyder, Salesforce's, Salesforce, Kara Swisher, Andy Jassy, Meta, Goldman Sachs Organizations: Companies, Service, MSNBC Locations: Wall, Silicon
Salesforce CEO Marc Benioff's message to companies interested in generative AI is clear: the technology can't be trusted yet. Benioff spent much of the conference issuing ominous warnings about the perils of generative AI while simultaneously touting his own company's new technology as ethical and secure. "We're not scraping the Internet with our models, if that's your question," Benioff told me Wednesday afternoon. Salesforce has "an open philosophy" regarding the development of large language models (LLMs), Benioff said, building some on top of pre-existing models and building others from scratch. Baxter said that Salesforce only uses customer data with consent and performs legal reviews before using any open-source data for AI model training.
Persons: Marc Benioff's, Benioff, Sam Altman —, else's, Salesforce, it's, Kathy Baxter, Baxter Organizations: Yerba Buena Center, Arts, Apex, Time Magazine, Media Locations: San Francisco
CEO Marc Benioff says he's got no plans for another big round of cuts and hopes layoffs are done. So on this week's call, Benioff took time to thank and wax poetic on all the former Salesforce employees who returned to work at the company during its turnaround effort. Former chief business officer Ebony Beckwith, a longtime executive who led the company's philanthropic foundation, quietly exited Salesforce in June. "We're ramping up hiring for critical roles," a spokesperson for Salesforce wrote to Insider via email when asked for clarification on Benioff's comments. At the same time, if former and current Salesforce employees are feeling whiplashed — told to leave and then told to come back — it's because the message coming from the top is mixed.
Persons: Marc Benioff, he's, Salesforce, Benioff, we've, It's, Ariel Kelman, Benioff's, Bret Taylor, Slack, Stewart Butterfield, Mark Nelson, Brent Hyder, Ebony Beckwith, Salespeople, Karl Keirstad, we're, whiplashed —, Ellen Thomas Organizations: Oracle, UBS, ethomas Locations: Salesforce
Salesforce (CRM) on Tuesday took another step to deliver profitable growth — a welcome development for investors, like us, which sent its stock price higher. Investors appeared upbeat around the list price increases, which Salesforce said are the first in seven years. "I don't expect it to impact churn much," said Berg, who has a buy rating and $230-per-share price target on Salesforce stock. It's worth noting, large customers will usually negotiate with Salesforce to secure a discount to a product's list price. Previously, a customer who bought 100 licenses at a 20% discount to the old list price would've generated $24,000.
Persons: Salesforce, Needham, Scott Berg, Berg, Mizuho, Marc Benioff's, Benioff, He's, Jim Cramer's, Jim Cramer, Jim, Marc Benioff, Salesforce.com, David Paul Morris Organizations: Service, Industries, Nasdaq, Nvidia, Palo Alto Networks, Devices, CNBC, Salesforce, Mizuho Securities, Bloomberg, Getty Locations: Palo, San Francisco
Sam Altman showed Marc Benioff an unreleased OpenAI model which can clone voices, Forbes reported. Sam Altman created an AI voice clone of Marc Benioff giving a presidential speech, but can no longer locate the data sample, Forbes and Quartz reported. In his company's most recent earnings call, Benioff had alluded to Altman giving him "demonstrations of advanced technologies" but didn't then give any details. He revealed Monday that Altman used an unpublished OpenAI model to simulate Benioff repeating the words of John F. Kennedy. Benioff said that OpenAI's model was able to accurately generate the JFK speech with just a few seconds of his voice, Forbes reported.
Persons: Sam Altman, Marc Benioff, Forbes, F, Kennedy, Benioff, ChatGPT, Altman, didn't, John F, ElevenLabs, OpenAI Organizations: Forbes, Quartz, JFK Locations: New York
Salesforce CEO Marc Benioff has been wooing back former executives for years. Insiders say that those that know Benioff best may get him to loosen his grip. Salesforce founder and CEO Marc Benioff has spent years wooing former executives back to the company. Benioff has surrounded himself with people "that know how Salesforce works and know how Benioff works" one former exec explained. With all of that new blood from aquisitions washed away, Benioff seems to think Salesforce can move forward by going back.
Persons: Marc Benioff, Brian Millham, Millham, Salesforce, Benioff, he's, Miguel Milano, Ariel Kelman, Kendall Collins, Steve Fisher, Dave Moellenhoff, Jim Steele, Clara Shih, Marc, , Larry Ellison, Benioff's, Keith Block, Bret Taylor, Slack, Stewart Butterfield, Mark Nelson, Julie Bort Organizations: Oracle, Twitter Locations: Salesforce
Apple Vision Pro. Apple's Vision Pro looks amazing, but why buy it? The Vision Pro also comes with a host of caveats beyond the price tag, such as a battery life of just two hours. Read more about the Apple Vision Pro's limits here. He said AI companies should be able to build fast and aggressively — and without regulation.
Persons: Nathan Rennolds, let's, Tony Fadell, Apple, Salesforce's Marc Benioff, Justin Sullivan, Marc Benioff, Marc Andreessen, Travis Kalanick's, Adam Beswick, he's, grads, Z, Leigh Thompson, Jack Sommers Organizations: Apple Vision, Apple, Companies, Meta, Sony, Getty, Salesforce, Amazon, Oracle, Big Tech, CloudKitchens, Stanford, UCLA, USC, Sequoia Capital, Kellogg School of Management, Northwestern University Locations: London
Miguel Milano becomes Salesforce's Chief Revenue Officer, moving from the same role at software company Celonis. Ariel Kelman, is the new Chief Marketing Officer of Salesforce. Benioff responded to the pressure by laying off thousands of employees and making other changes to increase the company's efficiency. Miguel Milano, our new Chief Revenue Officer: I'm excited to welcome back Miguel Milano to Salesforce as our Chief Revenue Officer. Ariel Kelman, our new Chief Marketing Officer:It's also incredible to welcome back Ariel Kelman as our new CMO!!!
Persons: Benioff, Marc Benioff, Miguel Milano, Milano, Ariel Kelman, Kendall Collins, Brian Millham, Salesforce, Millham, He's, Read, I'm, Brian, Brent, Juan, Miguel, It's, Ariel, Sarah Franklin, Sarah, she's, Sarah's, Congratulation Sarah, Alex Dayon, Alex, Alex !, Hui Hou Alex, Kendall, salesforce Organizations: Salesforce, Amazon, Oracle, Celonis, Amazon Web Services, Staff, Business Technology, Elliott Management, Human Resources, Global, Services, EMEA, APAC, AWS, Advisory, Board Locations: Okta, Salesforce, Celonis, AppDynamics
Marc Benioff's succession plan appeared to fall apart when co-CEO Bret Taylor resigned on Nov. 30. "I always have a succession plan," Benioff told Insider. A leaked Salesforce organizational chart identifies the likely candidates who are next in line. Salesforce CEO Marc Benioff says he has a successor in mind and a leaked Salesforce organizational chart identifies the likely candidates who are next in line. "I always have a succession plan," Benioff told Insider in an interview.
Salesforce CEO Marc Benioff gave executives lavish gifts including Cartier watches. Its marketing chief was given an Aston Martin, while another executive got an electric BMW. Marc Benioff pulls out all the stops when it comes to buying gifts for some executives. Insider revealed last week that the Salesforce CEO has generously given some watches costing five figures and cars costing well into six figures. Benioff is known for handing out $10,000 Cartier watches at Salesforce executive meetings.
On the agenda today:But first: Why Big tech's new focus on efficiency could have far-reaching impacts. Tech jobs aren't coming backTech giants have been slashing jobs. Companies from Meta to Salesforce have cut jobs in the recent months in the pursuit of efficiency and profit margins. Also read:Whistleblower docs: Jane RobertsSupreme Court Justice Chief Justice John Roberts and his wife Jane Roberts arrive for a 2018 State Dinner at the White House. At least one of those firms argued a case before the chief justice after paying his wife hundreds of thousands of dollars.
Benioff vs. Benioff
  + stars: | 2023-04-28 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com   time to read: +29 min
Within Salesforce, Benioff riffs are at times met with backlash from an angry workforce. "You're not going to fire your family during times of need," a former Salesforce executive told Insider. "I don't think they understand Ohana," Benioff told Insider. "Look, we have to be the example of stakeholder capitalism," Benioff told Insider. A 'New Day' at Salesforce"I use the Japanese principle of shoshin, beginner's mind," Benioff told Insider in a phone interview in March.
Salesforce is scrutinizing overtime, especially for workers who log more than 10 overtime hours a week. Overtime policies were laid out earlier this month in an internal document viewed by Insider. Salesforce is taking a stricter approach to overtime pay, according to an internal document viewed by Insider. It isn't clear how many Salesforce employees qualify for overtime pay, but most large tech companies do have a percentage of their workforce that qualifies. The document reminding employees that overtime pay must be approved and limited comes during a time when the software giant is executing major cost-cutting initiatives.
More companies are backtracking on earlier pledges to let employees work from home on a full or part-time basis. Across industries, major corporations including Disney, Twitter and Starbucks are requiring employees to spend more time at the office. Marc Benioff, CEO of Salesforce, is the latest leader to appear to reverse course after embracing remote work and criticizing return-to-office mandates. "Our hybrid approach empowers leaders to make decisions for their teams about how and where they work," a Salesforce spokesperson said in a statement. "And if leaders at big companies are adjusting their return to office policies, others will see that and think, 'I can do the same.'"
Marc Benioff praised Elon Musk, hailed AI's potential, and warned of an impending US recession. The Salesforce CEO said he regretted not buying Twitter years ago, and has always loved the company. Benioff hinted Bob Iger and Howard Schultz felt obligated to return as CEOs of Disney and Starbucks. Benioff spoke during the Upfront Summit this month, in an interview aired during a recent episode of the "On With Kara Swisher" podcast. (Benioff was discussing the recent return of Bob Iger and Howard Schultz as CEOs of Disney and Starbucks respectively.)
I spent the day last weekend with CNBC Investing Club members in New York City. We own Meta, Amazon and Alphabet for my Charitable Trust, which we use as our Club portfolio. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
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