CNBC's Jim Cramer on Thursday told investors that enterprise software companies may not be as lucrative as they have been over the past few years as artificial intelligence technology gains traction.
CEO Marc Benioff described a "measured" buying environment across the industry after Covid, when companies had bought up large amounts of enterprise software.
While Cramer said he's not writing off Salesforce, he suggested there may be too many enterprise software companies in the business, saying perhaps customers have purchased more of its products than they can actually use.
Companies could be reevaluating their investment in enterprise software as they figure out how AI can change business operations, according to Cramer.
He noted that some enterprise software is designed for jobs that AI could make superfluous.
Persons:
CNBC's Jim Cramer, Jensen Huang, Cramer, Thursday's, Marc Benioff, he's
Organizations:
Nvidia