Salesforce's $15 Billion Investment to Cement San Francisco as AI Capital

Salesforce to invest $15 billion in San Francisco to advance AI

Software giant Salesforce is planning to invest $15 billion in San Francisco over the next five years to strengthen the city's dominance in artificial intelligence. "This $15 billion investment reflects our deep commitment to our hometown -- advancing AI innovation, creating jobs, and helping companies and our communities thrive in this incredible new era," said Salesforce Chief Executive Marc Benioff in a statement. The funding is the latest example of how the frenzy around artificial intelligence has been shining a spotlight on San Francisco, the home of major tech companies such as Salesforce and ChatGPT maker OpenAI. Benioff's remarks also came ahead of the company's Dreamforce conference in San Francisco, an event that runs through Thursday. The conference is expected to bring nearly 50,000 people to the city, generate $130 million in revenue for San Francisco and create 35,000 local jobs, Salesforce said in a news release. Last week, Benioff also told the New York Times he thought Trump should send the National Guard to help reduce crime in San Francisco after the president said Democrats had "destroyed" the city. Salesforce's multibillion-dollar investment will go toward a new hub on the company's San Francisco campus that will support workforce development and training. On social media platform X, Benioff also posted that the investment will help "build a greater, safer city for everyone." Salesforce, a platform that helps businesses manage customer data and track sales, is also making other commitments to San Francisco as the competition to dominate AI heats up. On Monday, the company also announced a $100-million investment in the UCSF Benioff Children's Hospital and a $39-million investment to support AI education and readiness, including in the San Francisco Unified School District and Oakland Unified School District. Salesforce has also been promoting the use of "AI agents" that are capable of proactively doing work without constant input from a human. Some tasks agents can complete include responding to customer questions and generating marketing materials. The rise of artificial intelligence has also been fueling anxiety about whether technology will automate certain jobs, including in customer service and software engineering, amid job cuts. In September, Benioff said his company was able to shrink the number of people in support roles from 9,000 to 5,000 because AI agents are helping to automate certain tasks. He also previously said AI is doing 30% to 50% of the company's work. In July, the Brookings Institution called the San Francisco and San Jose metropolitan areas "superstars" when it comes to AI readiness. The report noted though that more AI-ready metro areas have to be wary about AI replacing jobs as technology reshapes the way people work. The Washington, D.C., think tank examined data such as venture capital funding, AI job postings and the number of computer science degree holders in certain areas. 2025 Los Angeles Times. Distributed by Tribune Content Agency, LLC.

Salesforce will invest $15B to keep San Francisco as "world's AI capital"

Jose Fabian is a web producer for CBS Bay Area where he reports on local crime, politics and breaking news. He studied political science and journalism at Sacramento State and was born and raised in Northern California. On Monday, Salesforce announced it would be investing $15 billion into San Francisco's AI industry. The company outlined its plans for the money and said the $15 billion would be invested over five years. Salesforce describes Agentic Enterprises as companies where employees work alongside AI agents that do repetitive, mundane tasks in order to free them up for "higher-value work." "This $15 billion investment reflects our deep commitment to our hometown -- advancing AI innovation, creating jobs, and helping companies and our communities thrive in this incredible new era," CEO Marc Benioff said. According to Salesforce, the incubator hub will give start-ups a hand in their development and the development of new AI applications. The announcement comes a day before the beginning of Dreamforce, an annual tech conference, described as the world's largest AI event. This year, it will take place from Oct. 14 to Oct. 16. "As we welcome nearly 50,000 people, and millions more online to Dreamforce, we're investing in the future of San Francisco and leading the next great technology transformation -- where humans and AI work together to drive productivity, growth, and meaningful change," Benioff said. It also comes on the heels of Benioff walking back comments that he would be for President Donald Trump sending the National Guard to San Francisco to help fight crime. On Sunday, he said that his comments were more about the city's police shortage and added that he would donate $1 million to be used for larger hiring bonuses for police.

Salesforce is spending $15 billion to make San Francisco the capital of AI

The company's new plan includes a campus hub focused on workforce training and AI development. Software giant Salesforce announced a $15 billion investment in San Francisco over the next five years. The funding is intended to strengthen the city's position in artificial intelligence and was announced ahead of its Dreamforce conference. "This $15 billion investment reflects our deep commitment to our hometown -- advancing AI innovation, creating jobs, and helping companies and our communities thrive in this incredible new era," said Salesforce Chief Executive Marc Benioff in a statement. The investment occurs as the focus on artificial intelligence has intensified, highlighting San Francisco as a hub for tech companies like Salesforce and ChatGPT developer OpenAI. The announcement preceded the company's annual Dreamforce conference, which runs through Thursday. According to a Salesforce news release, the event is projected to bring nearly 50,000 people to the city. The release also stated the conference is expected to generate $130 million in revenue for San Francisco and create 35,000 local jobs. Salesforce's investment will fund a new hub on its San Francisco campus dedicated to workforce development and training. On the social media platform X, Benioff posted that the investment will help "build a greater, safer city for everyone." Last week, Benioff told the New York Times he thought President Trump should send the National Guard to help reduce crime in the city after the president said Democrats had "destroyed" the city. The rise of artificial intelligence has also fueled anxiety about the automation of certain jobs, including in customer service and software engineering, amid company job cuts. This comes as the competition to dominate the AI sector heats up among technology companies making other commitments to San Francisco. In September, Benioff said Salesforce reduced its support roles from 9,000 to 5,000 because AI agents are automating tasks. He previously stated that AI is now performing 30% to 50% of the company's work, illustrating the technology's integration into its operations. A July report from the Brookings Institution called the San Francisco and San Jose metropolitan areas "superstars" for AI readiness. The Washington, D.C., think tank examined data such as venture capital funding, AI job postings, and the number of computer science degree holders in the region. The report noted that more AI-ready metro areas have to be wary of AI replacing jobs as technology reshapes the way people work.

Salesforce to invest $15 billion in San Francisco to advance AI

Software giant Salesforce is planning to invest $15 billion in San Francisco over the next five years to strengthen the city's dominance in artificial intelligence. "This $15 billion investment reflects our deep commitment to our hometown -- advancing AI innovation, creating jobs, and helping companies and our communities thrive in this incredible new era," said Salesforce Chief Executive Marc Benioff in a statement. The funding is the latest example of how the frenzy around artificial intelligence has been shining a spotlight on San Francisco, the home of major tech companies such as Salesforce and ChatGPT maker OpenAI. Benioff's remarks also came ahead of the company's Dreamforce conference in San Francisco, an event that runs through Thursday. The conference is expected to bring nearly 50,000 people to the city, generate $130 million in revenue for San Francisco and create 35,000 local jobs, Salesforce said in a news release on Monday. Last week, Benioff also told the New York Times he thought Trump should send the National Guard to help reduce crime in San Francisco after the president said Democrats had "destroyed" the city. Salesforce's multibillion-dollar investment will go toward a new hub on the company's San Francisco campus that will support workforce development and training. On social media platform X, Benioff also posted that the investment will help "build a greater, safer city for everyone." Salesforce, a platform that helps businesses manage customer data and track sales, is also making other commitments to San Francisco as the competition to dominate AI heats up. On Monday, the company also announced a $100-million investment in the UCSF Benioff Children's Hospital and a $39-million investment to support AI education and readiness, including in the San Francisco Unified School District and Oakland Unified School District. Salesforce has also been promoting the use of "AI agents" that are capable of proactively doing work without constant input from a human. Some tasks agents can complete include responding to customer questions and generating marketing materials. The rise of artificial intelligence has also been fueling anxiety about whether technology will automate certain jobs, including in customer service and software engineering, amid job cuts. In September, Benioff said his company was able to shrink the number of people in support roles from 9,000 to 5,000 because AI agents are helping to automate certain tasks. He also previously said AI is doing 30% to 50% of the company's work. In July, the Brookings Institution called the San Francisco and San Jose metropolitan areas "superstars" when it comes to AI readiness. The report noted though that more AI-ready metro areas have to be wary about AI replacing jobs as technology reshapes the way people work. The Washington, D.C., think tank examined data such as venture capital funding, AI job postings and the number of computer science degree holders in certain areas. This story originally appeared in Los Angeles Times.

Salesforce to invest $15 billion in San Francisco over five years - The Economic Times

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 in a statement. The announcement comes ahead of the company's Dreamforce conference, scheduled to take place between October 14 and October 16 in San Francisco. The annual conference is expected to draw nearly 50,000 attendees and generate $130 million in local revenue, Salesforce said. The company, which has more than 76,000 employees globally, last week announced plans to spend $1 billion in Mexico over the next five years. It began operating in Mexico in 2006. Salesforce shares were up nearly 1% in morning trading. They have fallen around 28% so far this year. Earlier in the day, the company also launched its "Agentforce 360" AI platform globally. The company forecast third-quarter revenue below Wall Street estimates in September. It had also announced a $20 billion increase to its existing share buyback program at the time.

Why Is Salesforce Stock Climbing Monday? - Salesforce (NYSE:CRM)

Salesforce, Inc. (NYSE:CRM) announced on Monday that it will invest $15 billion in San Francisco over the next five years to strengthen the city's position as a global hub for artificial intelligence. The investment will fund a new AI Incubator Hub at its San Francisco campus, expand workforce development and training programs, and support companies adopting Agentic Enterprise models, the company said. The announcement comes ahead of Salesforce's annual Dreamforce conference, which will bring nearly 50,000 attendees to San Francisco from October 14 to 16. Also Read: Infosys And Salesforce Accelerate Agentic AI For Businesses Now in its 23rd year, Dreamforce is billed as the world's largest AI event and is expected to generate about $130 million in local revenue and support 35,000 jobs tied to the gathering. Marc Benioff, Chair and CEO of Salesforce, said, "This $15 billion investment reflects our deep commitment to our hometown, advancing AI innovation, creating jobs, and helping companies and our communities thrive in this incredible new era." With AI reshaping the workplace, Salesforce is helping its employees, customers, partners, and communities adapt to the transformation. The company's new AI Incubator Hub is designed to help early-stage startups accelerate development and create impactful AI applications. Salesforce has also developed the 4Rs playbook to help companies evolve into Agentic Enterprises by redesigning workflows, reskilling employees, redeploying talent to boost agility, and rebalancing work. In recent months, the company has expanded its sales force and introduced new roles tailored for the agentic AI era, including Agentic Data Specialist, Agentic Integration Specialist, AI Architect, Agentforce Technical Architect, and Agentic Experience Specialist. Salesforce is also offering upskilling opportunities through Trailhead, its free online learning platform. So far, more than 5 million people, including 3,300 in San Francisco, have used Trailhead to build new skills and prepare for the AI-driven future of work. The company also unveiled a new $39 million commitment to education and healthcare, bringing the combined giving of Salesforce and the Benioffs to more than $1 billion in the Bay Area. Price Action: CRM shares were trading higher by 1.23% to $244.66 at last check on Monday. Read Next: SEALSQ Joins Forces With Landis+Gyr To Secure North America's Energy Grid Photo via Shutterstock CRMSalesforce Inc$244.591.20%OverviewMarket News and Data brought to you by Benzinga APIs

Salesforce's $15 Billion Investment in San Francisco Will Support AI Innovation -- Update

Salesforce will invest $15 billion in San Francisco over the next five years, a move the company said will cement the city's status as a global hub for artificial intelligence. The investment will fund a new AI Incubator Hub, expand workforce-development programs and help companies transform into "agentic enterprises," Salesforce said Monday. It comes as San Francisco's office market is showing signs of recovery after years of high vacancy rates and uncertainty. "This $15 billion investment reflects our deep commitment to our hometown--advancing AI innovation, creating jobs, and helping companies and our communities thrive in this incredible new era," Chief Executive Marc Benioff said. AI companies have leased nearly 1 million square feet of office space in the first half of 2025, led by firms including OpenAI and startup Harvey, which are aggressively expanding and fueling demand for new office space, The Wall Street Journal previously reported. The rebound has prompted institutional investors such as Blackstone to purchase office properties at steep discounts to their prepandemic prices, and for Houston-based real-estate investment manager Hines to eye a new 1,225-foot-tall office tower. Salesforce's latest investment coincides with the company's annual Dreamforce conference, during which investors will be looking for insights into its ability to monetize AI technologies, Morgan Stanley analysts said. Shares have fallen more than 25% this year, as Salesforce has yet to demonstrate that its AI offerings, including Agentforce, can scale beyond early proof-of-concept deployments, the analysts said, adding that the conference will be a key opportunity to show the technology's potential for widespread adoption. Salesforce, which bills itself as San Francisco's largest private employer, also on Monday pledged $39 million to local education and healthcare initiatives.