We recently published a list of 10 AI Stocks Dominating Wall Street. In this article, we are going to take a look at where Salesforce, Inc. (NYSE:CRM) stands against other AI stocks dominating Wall Street.
Representatives from around the world are going to be attending the Artificial Intelligence (AI) Summit at the Grand Palais on 10–11 February 2025. The summit will focus on harnessing the power of AI systems as well as the risks posed by them. From heads of state and government and leaders of international organizations to business leaders, as well as representatives from academia, civil society, and the arts, it would seem everyone related to the artificial intelligence world is to attend. However, that’s not quite true.
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Reuters has recently reported that the U.S. delegation to the AI Summit will not include technical staff from the country’s AI Safety Institute. Vice President JD Vance is leading the U.S. contingent to France, with attendees including members of the White House Office of Science and Technology Policy: Principal Deputy Director Lynne Parker and Senior Policy Advisor for Artificial Intelligence Sriram Krishnan. However, Homeland Security and Commerce Department officials are not going to be there, particularly the representatives of the U.S. AI Safety Institute trips have been canceled.
The AI Safety Institute, created under former President Joe Biden, was created to mitigate certain risks from AI, having signed agreements with U.S. startups OpenAI and Anthropic for safety testing. The absence of these representatives implies that the Commerce Department, in which the Safety Institute resides, is still in the transition phase after Trump’s inauguration.
Regarding the discussion on AI, Prof Gina Neff from the Minderoo Centre for Technology and Democracy said that there is currently “a vacuum for global leadership on AI”.
Another professor from Southampton University seems to agree:
“DeepSeek made everybody realize that China is a force to be reckoned with,” says the computer scientist. We don’t have to just go along with what the big companies on the West Coast are saying. We need global dialogue.”
-Prof Dame Wendy Hall, Southampton University.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A customer service team in an office setting using the company’s Customer 360 platform to communicate with customers.
Salesforce, Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 116
Salesforce, Inc. (NYSE:CRM) is a cloud-based CRM company that has gained traction after the launch of its AI-powered platform called Agentforce. On February 7, Bloomberg reported that software companies are increasingly being pressured to invest in artificial intelligence capabilities without hitting their profits. As a result, companies such as Salesforce Inc. (NYSE:CRM) and Workday are making two moves: cutting jobs and highlighting cost savings from adding workers internationally.
“Do we need to hire everybody in San Francisco? Or can we think about other locations that are cheaper where we can get really incredible labor like India and Mexico City.”
-Salesforce Chief Operating Officer Brian Millham said at an event hosted by Barclays Plc in December.
Previously, Bloomberg also reported on February 4th that Salesforce (NYSE:CRM) has been cutting jobs and simultaneously hiring workers to sell new artificial intelligence products.
The cuts speak “to the company’s focus on driving productivity and should help offset some of the incremental sales hiring that the company has already outlined”.
-Kirk Materne, an analyst at Evercore ISI.
Overall, CRM ranks 5th on our list of AI stocks dominating Wall Street. While we acknowledge the potential of CRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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