Jim Cramer, the host of CNBC’s Mad Money, characterized the third quarter of 2026 as a defining period for enterprise software, noting a sharp rebound from an earlier sell-off driven by artificial intelligence fears. Cramer stated that investors who bet against software companies due to AI disruption were proven wrong, with the sector seeing a significant comeback.
According to Cramer, Veeva Systems Inc. led the rebound, surging approximately 61% during the quarter. He attributed the stock’s performance to the fact that the anticipated displacement of software by AI did not materialize. He also highlighted Salesforce Inc., which jumped about 46% in the period. Salesforce’s gains were linked to the rollout of new AI tools, specifically Claudeforce, a plugin allowing users to access Salesforce data via Anthropic’s Claude AI. Cramer expressed continued optimism for Salesforce, though he noted that rising interest rates pose a risk for the fourth quarter.
Other software names mentioned included Palantir Technologies Inc., which soared around 60%, and CrowdStrike Holdings Inc., which jumped about 39% amid rising cybersecurity needs. Conversely, Cramer noted that some AI-related stocks, such as Corning Inc., fell nearly 40% following a rally, a move he attributed to profit-taking.
Regarding Meta Platforms Inc., Cramer argued that Wall Street may be overreacting to the potential threat of its Muse AI agent. He suggested that Meta should be viewed as an “enterprise company” following the deployment of the agent. Cramer believes this operational shift could justify a change in the company’s valuation multiple, potentially moving from an “18 times multiple” to “24-25.”
