Salesforce is doubling the size of its generative AI-focused investment fund from $250 million to $500 million, the company announced Monday at its Salesforce AI Day event.
The fund, first announced in March, has already invested in some AI heavyweights, including Anthropic, Cohere and You.com.
The San Francisco customer management software giant (NYSE: CRM) also unveiled AI Cloud, the umbrella name for its suite of AI products.
Salesforce has been following tech giants Google and Microsoft into the recent AI craze with a number of new products and investments. It has both partnered with OpenAI, the presumptive leader in the generative AI space, to integrate ChatGPT into its products, while backing some of OpenAI's competitors with its investment fund.
The company has already announced a number of the individual products that will fall under AI Cloud like Einstein GPT, which is the generative AI app for its CRM, and Slack GPT, which will allow users to generate replies and summaries of slack messages using AI.
However with the announcement of AI Cloud, Salesforce said it will be launching even more AI products — Sales GPT, Service GPT, Marketing GPT and Commerce GPT — which are currently in a pilot phase and will be available later this year.
The company is also promising data privacy to its customers through Einstein Trust Layer, which aims to prevent customer data from being incorporated into the large language models that power its generative AI products.
“AI is reshaping our world and transforming business in ways we never imagined, and every company needs to become AI-first,” said Salesforce CEO Marc Benioff in a press release.
