Salesforce jumps 4% after $1.6 billion Veterans Affairs contract
2026-07-24 18:42:01
According to CNBC, Salesforce shares rose more than 4% after the company said it won a three-year, $1.6 billion contract from the U.S. Department of Veterans Affairs. The agreement gives VA employees agentic AI-based tools aimed at improving efficiency. D.A. Davidson analyst Gil Luria said the deal appears significant because of its size and the department's importance, but he warned that one contract does not change Salesforce's growth challenges and does not necessarily ensure meaningful profits. Salesforce has said its public sector cloud annual recurring revenue topped $2 billion for the first time in May, up 23% year over year. The stock remains down nearly 40% in 2026 despite rising more than 6% over the past month.
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