Salesforce Agentforce Hits $800M Annual Run Rate While CRM Stock Plunges 30% YTD — The Cannibalization Paradox

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Salesforce's AI agent product Agentforce reached $800M annual run rate, yet Salesforce stock is down 30% YTD as the market prices in seat-based cannibalization faster than AI revenue can replace it. With 72% of 2025 growth coming from price increases rather than new customers, Agentforce may accelerate the transition away from the per-seat licensing model that built the company. The paradox: Salesforce is successfully building the product that most threatens its own business model.