Salesforce (CRM) to Invest $15 Billion in San Francisco Over Five Years

Salesforce, Inc. (NYSE:CRM) is one of the 10 Best American AI Stocks to Buy According to Analysts. On October 13, Reuters reported that Salesforce, Inc. (NYSE:CRM) has announced it will invest $15 billion in San Francisco over the next five years. This investment is aimed at boosting AI adoption.

According to the report by Reuters, Salesforce, Inc. (NYSE:CRM) is looking to strengthen its competitive edge against major tech companies.

Salesforce (CRM) to Invest $15 Billion in San Francisco Over Five Years

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Salesforce, Inc. (NYSE:CRM) is already integrating AI into its products, including Slack, the company’s workplace messaging platform. The company is competing with other tech firms to attract businesses that want to adopt AI technology.

This investment would support a new AI incubator hub on Salesforce, Inc.’s (NYSE:CRM) San Francisco campus. It will help companies adopt AI agents to perform tasks on behalf of users.

Previously, on October 8, Salesforce, Inc. (NYSE:CRM) had also announced plans to spend $1 billion in Mexico over the next five years.

Salesforce, Inc. (NYSE:CRM) is a leading American AI cloud-based software company that specializes in customer relationship management (CRM) solutions. The company offers software, tools, services, and applications for sales, customer service, marketing, e-commerce, and analytics.

While we acknowledge the potential of CRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRM and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.