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Salesforce crushed Q3 earnings expectations with Agentforce AI revenue jumping 330% year-over-year
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ADP jobs data showed surprise 32,000 decline vs 40,000 gain expected, boosting Fed rate cut odds to 89%
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Nvidia CEO Jensen Huang met with Trump on chip export restrictions while slamming state AI regulation
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GM’s new ‘Silicon Valley cowboy’ Sterling Anderson aims to accelerate Detroit innovation timeline
Salesforce just delivered a massive earnings beat powered by its AI revolution, while surprisingly weak jobs data sent markets soaring on hopes the Fed will cut rates next week. The cloud giant’s Agentforce AI revenue exploded 330% year-over-year, setting a bold $60 billion target for 2030 as investors price in an 89% chance of rate cuts.
Salesforce just proved that the AI boom isn’t slowing down. The cloud software giant blew past third-quarter earnings expectations in yesterday’s after-hours trading, sending shares climbing on news that its Agentforce AI platform generated a staggering 330% revenue surge compared to last year. But the real headline grabber? Salesforce set an ambitious $60 billion revenue target for Agentforce by fiscal 2030, signaling the company’s all-in bet on AI agents transforming enterprise software. While quarterly revenue came in slightly under Wall Street’s consensus forecast, the stronger-than-expected guidance for the current quarter showed investors that AI momentum isn’t just hype – it’s driving real revenue growth. The timing couldn’t be better for tech stocks, as surprisingly weak jobs data yesterday sent the broader market soaring on renewed hopes for Federal Reserve rate cuts. The ADP report showed private payrolls actually declined by 32,000 jobs in November, a shocking reversal from economists’ expectations of a 40,000 gain according to Dow Jones surveys. That bad news became good news for investors, who now see an 89% probability of rate cuts at next week’s Fed meeting, up from under 70% just a month ago based on CME’s FedWatch tool. The Dow Jones Industrial Average rallied more than 400 points in Wednesday’s session, pulling the blue-chip index back into positive territory for the week. Adding fuel to the rate cut fire, data from Challenger, Gray & Christmas revealed layoff announcements hit their highest levels since 2020, another signal that the labor market is cooling faster than expected. Commerce Secretary Howard Lutnick told CNBC the weak ADP numbers stemmed from government shutdown effects and mass deportations, not tariff impacts. Meanwhile, Nvidia CEO Jensen Huang made waves in Washington, meeting directly with Trump to discuss chip export restrictions before heading to Capitol Hill. Huang didn’t mince words about proposed AI legislation, calling the GAIN AI Act “even more detrimental to the United States than the AI Diffusion Act.” The semiconductor chief also broke ranks with other AI executives by strongly opposing state-level AI regulation, warning it would “drag this industry to a halt” and create national security concerns. The regulatory battle comes as continues dominating the AI chip market that’s powering companies like to record AI revenues. In Detroit, is betting big on its own tech transformation under new product chief Sterling Anderson, the self-proclaimed “Silicon Valley cowboy” who’s shaking up the automaker’s innovation timeline. Anderson told he wants faster product development and a “unified approach” across GM’s vehicle lineup, bringing West Coast startup mentality to Motor City manufacturing. The executive’s mission includes overseeing the complete product lifecycle of GM vehicles as the company races to compete with tech-savvy rivals like . Anderson’s task gets easier thanks to Trump’s decision to cut tariffs on South Korea, benefiting as the second-largest vehicle importer from that market behind . The policy shift shows how quickly trade dynamics can impact major manufacturers navigating global supply chains. Even traditional industries like airlines felt the economic crosscurrents, with quantifying the government shutdown’s impact at $200 million in pretax profit, or about 25 cents per share for the current quarter. The airline’s disclosure highlights how political disruptions ripple through corporate earnings, especially for companies dependent on government operations and travel.
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