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

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.”

We’re doubling down on San Francisco & Oakland — investing $15B to build a greater, safer city for everyone. Proud to be: Largest employer. Largest philanthropist. Supporting our San Francisco & Oakland public hospitals, schools & parks. Leading others to follow @PledgeOne.