No.1 AI-agent CRM
Salesforce, Inc.
Salesforce earns revenue by selling subscription cloud software (Sales, Service, Platform/Slack, Marketing, and data integration) to enterprise customers, posting $41.525 billion in revenue for FY2026 (ended January 31, 2026). Beyond its own data centers, it runs its services on hyperscale infrastructure leased from Amazon Web Services and Google Cloud, and in November 2025 it acquired data-management company Informatica for approximately $9.6 billion to bolster its agentic-AI and data strategy.
CRM Updated Sep 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Salesforce, Inc. is directly linked to 6 companies (2 supply, 4 revenue relationships) and reaches 55 companies within two hops; the links are backed by 11 dated sources, 2 of them primary filings (as of 2026-09-12).
Financials & Segments
- Total revenue · $41.525B (FY2026, 10-K / earnings release)
- Segments · Agentforce Sales (formerly Sales Cloud) · Agentforce Service (formerly Service Cloud) · Agentforce 360 Platform, Slack and Other · Agentforce Marketing and Agentforce Commerce · Agentforce Integration and Agentforce Analytics · Professional services and other
Revenue from
- Veeva Systems High confidence
Salesforce provides the platform and hosting infrastructure used by Veeva's legacy Veeva CRM and some multichannel CRM applications under an agreement that expired in September 2025 but has a wind-down period running through 2030, while vendor-specific fees were not disclosed. - PepsiCo Medium confidence· Count 120,000 field_sales_reps · 2025 · Scale of PepsiCo's Salesforce deployment - number of field sales reps using Salesforce (contract dollar value not disclosed)
PepsiCo runs seven Salesforce products (Consumer Goods Cloud, Service Cloud, Field Service, Marketing Cloud, Data 360, MuleSoft, and planned Agentforce), used daily by 100,000+ employees and 120,000 field sales reps across North America, Latin America and Europe, with plans to roll out Agentforce across 100+ global contact centers. No contract dollar value is disclosed.Confirms EN Salesforce Published Sep 17, 2025: PepsiCo builds an Agentic Enterprise with the Salesforce PlatformMentions EN IDC (via Salesforce newsroom) Published May 16, 2025: Salesforce Named #1 CRM Provider by IDC Market Share for 2025 - Equinix Medium confidence
Equinix uses Agentforce, Data Cloud, and Marketing Cloud to improve lead generation and conversion, according to a Salesforce customer-success roundup published in August 2025. No individual contract value is disclosed. - Boston Scientific Corporation Medium confidence
Salesforce provides Sales Cloud, Service Cloud, and Marketing Cloud to Boston Scientific and subsequently expanded Data Cloud across multiple divisions, and although product fees were not disclosed, the IDC case study records the company's view that Data Cloud carries premium pricing.Confirms EN IDC Published Mar 1, 2025: Building a Centralized Data Platform to Transform the Healthcare Provider Experience in MedTech
Pays to
- Amazon High confidence
Salesforce named AWS its 'preferred public cloud infrastructure provider' in 2016, and a 2025 Korean media report states that Hyperforce currently runs Salesforce's service on hyperscale data-center infrastructure including Amazon Web Services (AWS) and Google Cloud. Separately, the 10-K discloses (without naming specific vendors) that total contractual commitments to 'infrastructure service providers' were $16.7 billion as of January 31, 2026, of which $3.7 billion is due within 12 months.Confirms KO Electronic Times (etnews) Published Jun 18, 2025: Salesforce Korea CEO: 'We will safely provide our data and AI agent platform from a Korean data center'Confirms EN Salesforce Published May 25, 2016: Salesforce Selects AWS as Preferred Public Cloud Infrastructure Provider - Alphabet (Google) High confidence
In February 2025 Salesforce and Google expanded their strategic partnership so that Agentforce, Data Cloud and Customer 360 Apps run on Google Cloud infrastructure, with procurement also available via Google Cloud Marketplace. A June 2025 Korean media report separately confirms Hyperforce uses Google Cloud infrastructure alongside AWS. No dollar value is disclosed.Confirms KO Electronic Times (etnews) Published Jun 18, 2025: Salesforce Korea CEO: 'We will safely provide our data and AI agent platform from a Korean data center'Mentions KO ZDNet Korea Published Mar 6, 2025: 'AI, from tool to colleague'... Salesforce accelerates work automation with AgentforceConfirms EN Salesforce Published Feb 24, 2025: Salesforce and Google Bring Gemini to Agentforce, Enable More Customer Choice in Major Partnership Expansion
Investments
- Informatica High confidence· Amount $9.6B · 2025-11 인수 완료 · Total acquisition cost for Informatica as stated in the 10-K
Salesforce completed its acquisition of data-management platform Informatica in November 2025. The 10-K states the acquisition cost approximately $9.6 billion, and Informatica contributed about $399 million of revenue in FY2026. Informatica is not a node in node-index.md (the deal was originally announced in May 2025 at a reported ~$8 billion enterprise value, a different valuation basis than the 10-K's final acquisition cost).
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Sysco Corporation | lead2 | +8.3 | -0.3 | -1.7 | +7.4 | -1 | +11 |
| Merck KGaA (EMD) | lead2 | +42.2 | -0.4 | -19.1 | -2.5 | -12.7 | +10.4 |
| Lilly (Eli) | lead2 | +66.1 | +34.3 | +60.9 | +33.3 | +40.2 | +7.5 |
| Costco Wholesale | lead2 | +51.8 | -19 | +49 | +39.6 | -5.4 | +6.7 |
| Microsoft | lead2 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
| Walmart Inc | lead2 | +2 | -0.5 | +12.9 | +74 | +24.5 | -3.2 |
| E-mart Inc. | lead2 | -18.4 | -19.5 | -25.3 | -14.6 | +44.7 | -17.1 |
| Equinix | lead1 | +20.3 | -21.1 | +25.4 | +19.5 | -16.9 | +37.3 |
| Veeva Systems | lead1 | -6.2 | -36.8 | +19.3 | +9.2 | +6.2 | +23.2 |
| PepsiCo | lead1 | +20.6 | +6.8 | -3.3 | -7.6 | -1.8 | -2.2 |
| Salesforce, Inc. | node | +14.2 | -47.8 | +98.5 | +27.8 | -20.2 | -1.6 |
| Amazon | benef1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| SanDisk | benef2 | · | · | · | · | · | +633 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +209.1 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +120.2 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +86.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| Occidental Petroleum | benef2 | +67.7 | +119.1 | -4.1 | -15.9 | -14.9 | +47.4 |
| GE Vernova | benef2 | · | · | · | · | +99 | +44.4 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +42.9 |
| FedEx | benef2 | +0.7 | -31.6 | +49.1 | +13.5 | +5.1 | +39.6 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +37.3 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +36.3 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Globalstar | benef2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +34.9 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +30.1 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +20.7 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +18.5 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Entergy | benef2 | +17.1 | +3.6 | -6.1 | +56 | +25.3 | +18.2 |
| Norfolk Southern | benef2 | +27.3 | -15.6 | -1.6 | +1.6 | +25.6 | +15.6 |
| Colgate-Palmolive Company | benef2 | +2.1 | -5.4 | +3.8 | +16.6 | -11 | +14.4 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +11 |
| United Parcel Service, Inc. | benef2 | +30 | -16.2 | -6 | -15.9 | -15.9 | +8 |
| Celestica | benef2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +5.7 |
| Procter & Gamble | benef2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.5 |
| Amorepacific | benef2 | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | +4.1 |
| Exelon | benef2 | +41.5 | +8.3 | -14 | +9.2 | +20 | +1.9 |
| Vistra | benef2 | +19.6 | +5.1 | +70.7 | +261.5 | +17.7 | -7.2 |
| Fabrinet | benef2 | +52.7 | +8.2 | +48.4 | +15.5 | +107.1 | -10.5 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Abbott Laboratories | benef2 | +30.5 | -20.7 | +2.3 | +4.8 | +12.9 | -11.9 |
| Talen Energy | benef2 | · | · | · | +214.8 | +86.1 | -15.4 |
| Quantum Computing Inc | benef2 | -75.8 | -55.7 | -39.5 | +1712.7 | -38 | -21.9 |
| D-Wave Quantum | benef2 | · | -85.3 | -38.9 | +854.5 | +211.3 | -36.6 |
| Nike | benef2 | +18.7 | -29 | -6 | -29.1 | -13.8 | -38.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
A case where being at the demand end of the AI chain did not bring the move. After rebounding 98.5% in 2023, Salesforce has stalled for two years: -20.2% in 2025 and -1.6% in 2026. Over the same period the layers above kept rising (NVIDIA +38.9% in 2025 and +23.7% in 2026, Alphabet +66.0% in 2025). The usual argument that cheaper compute benefits the software built on top of it is not visible in the share price. The node's structure suggests why. On the cost side it straddles two clouds, Amazon and Alphabet, with $16.7B of contractual commitments to infrastructure service providers disclosed as of 2026-01-31. The filing gives only the total and does not split it by vendor, so how much sits with each is unconfirmed. On the revenue side it names large customers such as PepsiCo and Equinix, but no per-customer contribution is disclosed against FY2026 revenue of $41.5B. It therefore sits where fixed costs above are rising while pricing power below is unproven. The Informatica acquisition, completed in November 2025, is the response, securing the data layer, and whether that bet restores the multiple is the re-rating question. Workday moved the same way (-8.8% in 2026), so this reads as a de-rating of enterprise SaaS as a segment rather than a company-specific problem.
Analysis generated from returns as of 2026-09-04