Salesforce.com (CRM) stock surged 6.90% in pre-market trading on Thursday, following the company's ambitious financial targets and strong artificial intelligence (AI) initiatives announced during its Investor Day presentation at Dreamforce in San Francisco.

The cloud-based software giant set a revenue goal of over $60 billion by fiscal year 2030, excluding any contribution from its planned Informatica acquisition. This target implies an organic compounded annual growth rate of over 10% from FY26 to FY30, surpassing analysts' expectations. Investors were particularly enthused by Salesforce's progress in AI, with its Data and AI business hitting $1.2 billion in revenue in the second quarter, marking a 120% year-over-year increase.

Adding to the positive sentiment, Salesforce announced an expanded strategic partnership with Google to integrate Google's Gemini AI models with Salesforce's new Agentforce 360 platform. This collaboration aims to enhance productivity for sales and IT service teams, further solidifying Salesforce's position in the AI market. The company's ability to leverage AI for its own operations, saving approximately $100 million annually in customer support, also demonstrated the technology's potential for increased profitability. These developments have alleviated concerns about AI tools potentially eroding demand for Salesforce's software and have renewed investor confidence in the company's growth prospects.