WASHINGTON (dpa-AFX) - Salesforce, Inc. (CRM), a cloud-based software company, on Monday announced plans to invest $15 billion in San Francisco over the next five years to strengthen the city's position as a global AI hub.
The company also announced a new $39 million pledge to education and healthcare, bringing its total Bay Area contributions to more than $1 billion.
The investment will fund a new AI Incubator Hub at Salesforce's San Francisco campus, support AI workforce development and training, and help companies transition into Agentic Enterprises.
The announcement comes ahead of the annual Dreamforce conference, running October 14 to October 16, which is expected to attract nearly 50,000 attendees, generate $130 million in local revenue, and create 35,000 local jobs.
In the pre-market trading, Salesforce is 1.12% higher at $244.29 on the New York Stock Exchange.
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