Salesforce said on Monday it would invest $15 billion in San Francisco over the next five years to accelerate AI adoption, as the cloud software provider looks to sharpen its competitive edge against tech giants.
Founded in San Francisco in 1999 and still headquartered there, Salesforce has been integrating AI into its products, including workplace messaging platform Slack, as it jostles with companies such as ServiceNow, Oracle and Microsoft to win businesses eager to adopt the booming technology.
Salesforce said the latest investment would support a new AI incubator hub on its San Francisco campus and help companies adopt AI agents, which can perform tasks on behalf of the users.
“This $15 billion investment reflects our deep commitment to our hometown — advancing AI innovation, creating jobs and helping companies and our communities thrive,” CEO Marc Benioff said.