Microsoft Is a Winner for AI Spending in 2026. Why Salesforce Could Be a Loser. -- Barrons.com

Dow Jones12-10

By Adam Clark

Company executives are shaping their information-technology budgets for next year. Microsoft looks set to be a major beneficiary from artificial-intelligence spending, but the news isn't so good for Salesforce, according to a KeyBanc survey.

IT budgets are set to grow 3.7% in 2026, according to the survey of chief information officers. That doesn't sound particularly impressive, but money is being shifted into AI, which is set to rise to 4.7% of overall budgets from 3.2% this year.

That's good news for Microsoft, with 91% of KeyBanc's respondents expecting to spend more with the company on its cloud-computing services. Microsoft was also the vendor with the highest expected net increase in spending.

"Microsoft is still viewed as [the] most strategic AI vendor," wrote KeyBanc analyst Jackson Ader and colleagues in a research note. Ader has an Overweight rating and $630 target price on Microsoft, which was up 0.1% at $491.32 in Tuesday trading.

However, the signs aren't so good for Salesforce and its hopes that AI will boost sales of its customer-relationship-management (CRM) software.

"Only 36% of individuals cited interest in paying for AI capabilities from their CRM software provider, down materially from 46% in our last survey. Individuals who would pay cited interest primarily in paying for sales prospecting, content marketing, and customer service bots," Ader and colleagues wrote.

Only 7% of respondents said they were using Salesforce's Agentforce AI tools, in contrast to 76% for Microsoft's Copilot AI platform. The good news for Salesforce is that it was named top CRM vendor by 45% of respondents in the survey for the second half of 2025, up from 35% for the first half.

Ader has an Overweight rating and $400 target price on Salesforce stock, which was up 0.6% at $261.11 on Tuesday.

Write to Adam Clark at adam.clark@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

December 09, 2025 11:10 ET (16:10 GMT)

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That doesn't sound particularly impressive, but money is being shifted into AI, which is set to rise to 4.7% of overall budgets from 3.2% this year. \n</p>\n<p>\n  That's good news for Microsoft, with 91% of KeyBanc's respondents expecting to spend more with the company on its cloud-computing services. Microsoft was also the vendor with the highest expected net increase in spending. \n</p>\n<p>\n  \"Microsoft is still viewed as [the] most strategic AI vendor,\" wrote KeyBanc analyst Jackson Ader and colleagues in a research note. Ader has an Overweight rating and $630 target price on Microsoft, which was up 0.1% at $491.32 in Tuesday trading. \n</p>\n<p>\n  However, the signs aren't so good for Salesforce and its hopes that AI will boost sales of its customer-relationship-management (CRM) software. \n</p>\n<p>\n  \"Only 36% of individuals cited interest in paying for AI capabilities from their CRM software provider, down materially from 46% in our last survey. Individuals who would pay cited interest primarily in paying for sales prospecting, content marketing, and customer service bots,\" Ader and colleagues wrote. \n</p>\n<p>\n  Only 7% of respondents said they were using Salesforce's Agentforce AI tools, in contrast to 76% for Microsoft's Copilot AI platform. The good news for Salesforce is that it was named top CRM vendor by 45% of respondents in the survey for the second half of 2025, up from 35% for the first half. \n</p>\n<p>\n  Ader has an Overweight rating and $400 target price on Salesforce stock, which was up 0.6% at $261.11 on Tuesday. \n</p>\n<p>\n  Write to Adam Clark at adam.clark@barrons.com \n</p>\n<p>\n   This content was created by Barron's, which is operated by Dow Jones &amp; Co. 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Why Salesforce Could Be a Loser. -- Barrons.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-10 00:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Adam Clark \n</p>\n<p>\n  Company executives are shaping their information-technology budgets for next year. Microsoft looks set to be a major beneficiary from artificial-intelligence spending, but the news isn't so good for <a href=\"https://laohu8.com/S/CRM\">Salesforce</a>, according to a KeyBanc survey. \n</p>\n<p>\n  IT budgets are set to grow 3.7% in 2026, according to the survey of chief information officers. That doesn't sound particularly impressive, but money is being shifted into AI, which is set to rise to 4.7% of overall budgets from 3.2% this year. \n</p>\n<p>\n  That's good news for Microsoft, with 91% of KeyBanc's respondents expecting to spend more with the company on its cloud-computing services. Microsoft was also the vendor with the highest expected net increase in spending. \n</p>\n<p>\n  \"Microsoft is still viewed as [the] most strategic AI vendor,\" wrote KeyBanc analyst Jackson Ader and colleagues in a research note. Ader has an Overweight rating and $630 target price on Microsoft, which was up 0.1% at $491.32 in Tuesday trading. \n</p>\n<p>\n  However, the signs aren't so good for Salesforce and its hopes that AI will boost sales of its customer-relationship-management (CRM) software. \n</p>\n<p>\n  \"Only 36% of individuals cited interest in paying for AI capabilities from their CRM software provider, down materially from 46% in our last survey. Individuals who would pay cited interest primarily in paying for sales prospecting, content marketing, and customer service bots,\" Ader and colleagues wrote. \n</p>\n<p>\n  Only 7% of respondents said they were using Salesforce's Agentforce AI tools, in contrast to 76% for Microsoft's Copilot AI platform. The good news for Salesforce is that it was named top CRM vendor by 45% of respondents in the survey for the second half of 2025, up from 35% for the first half. \n</p>\n<p>\n  Ader has an Overweight rating and $400 target price on Salesforce stock, which was up 0.6% at $261.11 on Tuesday. \n</p>\n<p>\n  Write to Adam Clark at adam.clark@barrons.com \n</p>\n<p>\n   This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 09, 2025 11:10 ET (16:10 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BN29S564.USD","symbol_name":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2590349328","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2590349328","pubTimestamp":1765296600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Company executives are shaping their information-technology budgets for next year. 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GLOBAL INNOVATION EQUITY \"A\" (USD) ACC","LU1221951046.USD":"NORDEA 1 STABLE RETURN \"HM\" (USDHDG) INC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC"},"translate_title":"微软是2026年人工智能支出的赢家。为什么Salesforce可能是输家。——Barrons.com","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MSFT":1.96,"CRM":1.94,"AI":0.77},"content_text":"By Adam Clark \n\n\n  Company executives are shaping their information-technology budgets for next year. Microsoft looks set to be a major beneficiary from artificial-intelligence spending, but the news isn't so good for Salesforce, according to a KeyBanc survey. \n\n\n  IT budgets are set to grow 3.7% in 2026, according to the survey of chief information officers. That doesn't sound particularly impressive, but money is being shifted into AI, which is set to rise to 4.7% of overall budgets from 3.2% this year. \n\n\n  That's good news for Microsoft, with 91% of KeyBanc's respondents expecting to spend more with the company on its cloud-computing services. Microsoft was also the vendor with the highest expected net increase in spending. \n\n\n  \"Microsoft is still viewed as [the] most strategic AI vendor,\" wrote KeyBanc analyst Jackson Ader and colleagues in a research note. Ader has an Overweight rating and $630 target price on Microsoft, which was up 0.1% at $491.32 in Tuesday trading. \n\n\n  However, the signs aren't so good for Salesforce and its hopes that AI will boost sales of its customer-relationship-management (CRM) software. \n\n\n  \"Only 36% of individuals cited interest in paying for AI capabilities from their CRM software provider, down materially from 46% in our last survey. Individuals who would pay cited interest primarily in paying for sales prospecting, content marketing, and customer service bots,\" Ader and colleagues wrote. \n\n\n  Only 7% of respondents said they were using Salesforce's Agentforce AI tools, in contrast to 76% for Microsoft's Copilot AI platform. The good news for Salesforce is that it was named top CRM vendor by 45% of respondents in the survey for the second half of 2025, up from 35% for the first half. \n\n\n  Ader has an Overweight rating and $400 target price on Salesforce stock, which was up 0.6% at $261.11 on Tuesday. \n\n\n  Write to Adam Clark at adam.clark@barrons.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 09, 2025 11:10 ET (16:10 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2590349328","isCrawlerRequest":true}