Salesforce Ventures Ups AI Fund by $500 Million to $1 Billion

Sep 16, 2024, 04:03 PM

Salesforce Ventures has announced an additional $500 million investment into its Generative AI Fund, bringing its total commitment to AI ventures to $1 billion over the past 18 months. This new fund aims to support market-leading AI startups by providing patient capital, growth opportunities, and industry expertise. The investment has already been allocated to over two dozen AI companies, including notable industry leaders such as Anthropic AI, Cohere, and Runway ML. This move underscores Salesforce's dedication to advancing AI innovation and solidifies San Francisco's position as a hub for AI startups. Salesforce's stock symbol is $CRM.