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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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.