Salesforce's quarterly results didn't convince the naysayers that AI can be a friend, not a foe, to its business. But they shored up Jim Cramer's confidence in the stock. "It's worth it to stay long Salesforce, and we're going to," Jim said during Wednesday's Morning Meeting . Earlier on CNBC, he said he would buy more shares if not restricted. If Jim has talked about a stock on CNBC, he must wait 72 hours before executing a trade. Shares of Salesforce are up roughly 1% since the enterprise software maker reported a strong quarter on Wednesday. Revenue rose 13.3% year over year to $11.13 billion, beating the Street's $11.05 billion estimates, according to LSEG. Adjusted earnings per share totaled $3.87, beating the consensus estimate by 76 cents. Salesforce has been trying to counter the prevailing market narrative that AI poses an existential threat to its business. Bears say the company's per-seat business model is in danger as AI efficiency forces headcount reduction, and that AI code-writing tools will lead customers to replace some Salesforce tools with in-house applications. Several analysts, including Wells Fargo, UBS, Bernstein, and D.A. Davidson, either cut price targets on the stock or left them unchanged. But Jim is convinced that CEO Marc Benioff isn't getting the credit he deserves as Salesforce quietly transitions to a consumption-based model. The strategy includes tokenized pricing, where customers can redeem tokens across services as a more flexible way to pay for usage. He points to Salesforce's AI-powered model, Agentforce, as proof of that transformation. Agentforce helps customers build AI agents that can work autonomously to execute tasks. Salesforce said the business closed on a record 98 deals in the quarter, with annual recurring revenue (ARR) now sitting at $1.2 billion. That's a 205% year-over-year jump from $800 million in the fourth quarter. "Agentforce revenue is now over a billion dollars, Jim. That's incredible. And Agentforce is now on all of our products from sales to service," Salesforce CEO Marc Benioff said on ' Mad Money' Wednesday evening. "There's no enterprise software company that's doing more than Salesforce is." Jim compared Salesforce's pivot to that of another software company, Snowflake , whose stock surged nearly 39% after earnings on Thursday. Not only did Snowflake, late Wednesday, deliver a beat-and-raise quarter by leaning into AI, but it also committed to spending $6 billion on compute from Amazon. "[Benioff is] switching his model too. He's just not pounding his chest about it." (Jim Cramer's Charitable Trust is long CRM. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
