: Salesforce’s stock gets a bump as AI tool debuts sooner than expected
Shares of Salesforce Inc. CRM rose 2.7% Wednesday after the software giant announced general availability and pricing for its Service GPT, Sales GPT, and Einstein GPT Trust Layer generative AI offerings. Users can harness Service GPT to auto-generate personalized replies and automatically summarize customer interactions for future reference, according to Salesforce. Citing the product news, Mizuho Securities raised its Salesforce price target to $260 from $250. “The co. disclosed that its Sales GPT and Service GPT offerings will have a list price of $50 per user per month, although only customers leveraging CRM’s Unlimited Edition will initially have access to these GPT-enabled capabilities,” wrote Mizuho analyst Gregg Moskowitz, in a note. “While the pricing details were broadly in line with what we were expecting, GA [general availability] of the GPT versions of these two flagship products arrived sooner than we anticipated.”
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