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>>Over the next five years, Salesforce plans to invest $15B in San Francisco to drive advancements in artificial intelligence and stimulate local economic development.

Over the next five years, Salesforce plans to invest $15B in San Francisco to drive advancements in artificial intelligence and stimulate local economic development.

crypthub

about 13 hours ago

Investment in AI and San Francisco

Salesforce has pledged $15 billion over five years to advance AI innovation in San Francisco, aiming to strengthen its industry position and support local job creation. The funds will establish an AI incubator hub on its campus and aid businesses in integrating AI tools. The investment underscores the company’s commitment to its hometown, where it was founded in 1999, and aligns with broader tech trends of heavy AI spending.

Industry-Wide AI Expansion

The AI investment wave includes major deals by companies like OpenAI, Broadcom, AMD, and Nvidia, with multi-billion-dollar agreements focused on chips, cloud services, and infrastructure. Oracle and Meta have also announced large-scale partnerships, while Tesla and others are securing chip supplies. These efforts reflect a global push to enhance computing power and accelerate AI development across sectors.

Event and Financial Context

Salesforce’s announcement precedes its annual Dreamforce conference, expected to attract 50,000 attendees and generate $130 million in local revenue. Despite weaker third-quarter results, the company expanded its AI offerings and increased its share buyback program by $20 billion. Its global workforce exceeds 76,000, and it recently committed $1 billion to Mexico over five years.