📄 earnings_call Analysis December 04, 2025 Salesforce Inc Q3 2026 Earnings Call

The $10 Billion Data Infrastructure Play: Salesforce's Agentic Enterprise Moat

Enterprise AI Infrastructure Agentic Enterprise Platforms
Tickers
1 Pick
Conviction HIGH
Risk Profile 1.8/10 (MODERATE RISK)
Horizon 18-24 months

Executive Summary

Salesforce has cracked the enterprise AI code that every other software company is still trying to solve. While competitors chase LLM integrations and demo-ware, CRM has built the only production-scale agentic enterprise platform processing 3.2 trillion tokens with 18,500+ live deployments. The Informatica acquisition creates a $10 billion data infrastructure fortress that competitors cannot replicate. Mark Benioff's revelation that 'every CEO wants to become an agentic enterprise' signals a sec...

Key Investment Opportunity

The Agentic Enterprise Infrastructure Play

Salesforce has built the only enterprise-grade platform that combines data infrastructure (Informatica + Data 360 + MuleSoft), AI reasoning (Agentforce), and production workflows in a single stack. The 3.2 trillion token processing volume proves this isn't vaporware—it's the foundation layer for ent...

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