Salesforce Just Bet $25 Billion on Itself. Here’s the Catch Nobody Mentions

Salesforce executed a $25 billion accelerated share repurchase, reducing its diluted share count by approximately 15%, but simultaneously increased its total debt significantly to over $42 billion. This move lowered its fiscal 2027 free cash flow growth outlook. The company's strategy relies on potentially selling its Anthropic stake, which Marc Benioff suggests could be worth tens of billions, to repay this new debt, though the current balance sheet shows investments are well short of the borro