Marc Benioff wants you to rethink what Slack actually is. On a recent appearance on Mad Money with Jim Cramer, the co-founder and CEO of Salesforce (NYSE:CRM | CRM Price Prediction) made a striking claim about the messaging platform Salesforce acquired five years ago.
“Jim, you remember five years ago we bought Slack and it was an incredible company, but it’s become an even better product. And we’ve also tripled revenue during that five year period. We’re anticipating about $3 billion in revenue this year with Slack.”
— Marc Benioff, Mad Money with Jim Cramer
Slack as “The Interface to AI”
Benioff went further than a revenue milestone. He described Slack as “the interface to AI” and noted that top AI companies in San Francisco, including OpenAI and Anthropic, are running their operations on Slack, making it what he called the number one AI ecosystem.
That framing matters. Slack started as a workplace chat tool. Benioff is positioning it as the connective tissue between humans and AI agents, which aligns directly with Salesforce’s broader Agentforce strategy. Agentforce ARR reached $800 million, up 169% year-over-year, with 29,000 deals closed, up 50% quarter-over-quarter.
The most recent integration news reinforces the thesis. Salesforce is integrating Docusign’s Intelligent Agreement Management directly into Slack, enabling teams to create, send, and manage contracts without leaving the platform. Hundreds of companies are reportedly building on Slack’s ecosystem.
The Numbers Behind the Claim
Slack’s revenue is embedded within the “Agentforce 360 Platform, Slack and Other” segment, so there’s no clean Slack-only line item. But the segment’s trajectory is hard to ignore. Q4 FY26 segment revenue hit $2.655 billion, up 38% year-over-year, accelerating from 14% growth in Q1.
The broader Salesforce picture is solid. Full-year FY26 revenue came in at $41.525 billion, with free cash flow of $14.402 billion. FY27 guidance calls for $45.8 billion to $46.2 billion in revenue. The company also authorized a $50 billion share repurchase program, which Benioff noted on Mad Money is already underway for what is roughly a $170 billion company.
Cantor Fitzgerald’s Matthew VanVliet maintained a Buy rating with a $300 price target. The consensus average sits at $273.85, against a current price of $186.67, a stock that is down 29.53% year-to-date.
If you believe Slack is genuinely becoming the AI operating layer for enterprise teams, and that the Agentforce platform continues its adoption curve, then Benioff’s $3 billion Slack revenue target is a milestone worth watching. The gap between where the stock trades today and where analysts think it belongs is the question every CRM investor is sitting with right now.
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