What Salesforce, Inc. told the SEC could break it.

Sanctions and export/import control regulations are subject to change and uncertainty — driven by tariff-policy changes, increased AI/cloud-service regulation, and US-China relations, Russia sanctions and Middle East conflict — with regulators signaling heightened enforcement and self-disclosure pressure.

“Sanctions and export and import control regulations in the United States and other countries are subject to change and uncertainty, including as a result of tariff policy changes, rapidly evolving technology, increased government regulation of AI and cloud service solutions, and geopolitical developments such as events affecting relations between the United States and China, multi-jurisdictional sanctions on Russia, the war in Ukraine and regional conflict in the Middle East.”

Salesforce relies on third-party data center hosting facilities and cloud computing platform providers (in the U.S. and abroad) plus the underlying networks that power the Internet to deliver its products and run critical systems; disruptions or capacity shortfalls could impair service delivery.

“We rely on third-party data center hosting facilities and cloud computing platform providers located in the United States and other countries, as well as the many different underlying networks and services that power the Internet, to deliver our products and services and operate critical business syste”

Salesforce is exposed to concentrations of risk in its strategic investment portfolio, which primarily invests in enterprise cloud companies and technology startups within specific industries, exposing it to sector-correlated valuation swings.

“The Company is also exposed to concentrations of risk in its strategic investment portfolio, including within specific industries, as the Company primarily invests in enterprise cloud companies, technology st”