Benioff says he's 'inspired' by Palantir, but takes another jab at its prices

Marc Benioff, the co-founder and CEO of Salesforce, has expressed admiration for Palantir, a company specializing in data management solutions for both businesses and government entities. Speaking with CNBC's Morgan Brennan during the Goldman Sachs Communacopia+Technology conference in San Francisco, he remarked, "Oh my gosh. I am so inspired by that company." He noted Palantir's impressive revenue multiples, stating, "I would love to have that too. Maybe it'll have 1000 times on their revenue soon." Despite his praise, Benioff didn't hold back on his critique of Palantir's pricing, calling it "the most expensive enterprise software I've ever seen." He humorously suggested that perhaps he should consider raising prices for Salesforce's offerings. This isn't the first time Benioff has addressed Palantir's pricing; he previously referred to it as "extraordinary" in another interview, emphasizing that Salesforce provides a competitive product at a significantly lower cost. Palantir, which has been in operation since 2003, has been experiencing rapid growth, boasting a 48% increase compared to Salesforce's 10% growth rate. The competition between the two companies extends to government contracts, with Benioff highlighting a recent victory over Palantir for a U.S. Army contract. While Salesforce, valued at over $231 billion, remains substantially larger than Palantir, which has a market capitalization of $406 billion, the latter has gained traction among retail investors, becoming one of the most traded stocks on platforms like Robinhood. As Salesforce faces a challenging year with a 27% decline in stock value, the rivalry between these tech giants continues to evolve.