Salesforce Pays High Premium in $25bn Bond Sale Amid AI Disruption Fears

• Salesforce issued a $25 billion bond sale, paying a significantly higher premium to investors.
• The higher premium reflects growing investor concerns about AI's potential disruption to established software companies.
• 30-year bonds were priced at 1.7 percentage points above US Treasury bonds, substantially higher than typical spreads.
• The debt offering aims to finance a large share buyback after a 27% stock decline this year.
• Salesforce faces competition from AI developers like Anthropic and new entrants like Sierra, founded by former co-CEO Bret Taylor.