Salesforce Doubles Down On AI With $1 Billion Investment In Singapore Over Next 5 Years

Salesforce Inc. CRM has committed to invest $1 billion in the country’s AI sector over the next five years. The investment is aimed at promoting the adoption of Salesforce’s AI product, Agentforce.

What Happened: Salesforce, on Tuesday, unveiled its plans to inject $1 billion into Singapore’s AI industry over the next half-decade. The initiative aims to speed up the country’s digital transformation and promote the adoption of Agentforce, Salesforce’s leading AI solution.

Having operated in Singapore for around 25 years, Salesforce believes this investment will bolster Singapore’s workforce in various key service and public sector roles. This comes at a critical moment as the country faces challenges from an aging population and declining birth rates.

Salesforce’s AI Research hub in Singapore has driven product innovations, including AIOps Agents that enhance Salesforce’s site availability and in-house code LLMs that assist customers in optimizing their code for better performance. Their work has led to the publication of over 100 research papers and patents.

Salesforce is enhancing its services on Hyperforce in Singapore to offer data residency for Data Cloud, Agentforce, and Unified Marketing Applications (UMA) by next month. This will enable Singapore businesses to leverage Salesforce's Agentforce and data solutions while complying with local data residency regulations.

SEE ALSO: Jim Cramer Asks, ‘Do We Just Keep Selling Because Everyone Is Selling?’—Calls It The ‘Every Day Lower Prices Walmart White House’

Why It Matters: This investment comes on the heels of Salesforce’s recent unveiling of Agentforce 2dx at the TrailblazerDX conference. The new product represents a significant advancement from reactive to proactive agentic capabilities in the AI sector. Notably, today Salesforce also announced a collaboration with Singapore Airlines (SIA) to enhance the customer case management system.

Goldman Sachs analyst Kash Rangan expressed optimism about Salesforce’s execution of its AI product roadmap, setting a price target of $400 for the company’s stock. This investment in Singapore’s AI sector is likely to further strengthen Salesforce’s position in the global AI market.

CRM stock surged 9.35% over the past six months to close at $277.05 on Tuesday as per BenzingaPro.

• READ MORE: TSMC Proposes Joint Venture With Nvidia, AMD And Broadcom To Operate Intel’s Factories: Report

Image via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.