Salesforce to invest $4B in its UK business to bolster AI capability
Salesforce (NYSE:CRM) will invest $4B in its U.K. business over five years to strengthen artificial intelligence (AI) innovation.
The announcement comes amid Salesforce starting its World Tour London: AI Day, the company's largest-ever U.K. event with more than 14,000 customers, partners, employees and stakeholders expected to attend.
Salesforce will also unveil its latest AI product innovations at the event.
The $4B investment builds on a previous five-year investment of $2.5B which was announced in 2018, according to the company.
Salesforce said it is seeing rapid growth in the U.K. as companies invest in their digital transformations and use the innovation cycle around AI.
"A clear pro-innovation regulatory framework that compels safe and responsible use of AI is vital, and Salesforce is fully focused on bringing secure, trusted, enterprise ready generative AI to UK businesses," said Zahra Bahrololoumi, CEO of Salesforce UKI.
Salesforce is not the only company which is thinking of expanding activities in Europe. Earlier in June, Intel (INTC) said it would invest more than â¬30B (~$33B) in Germany to build two semiconductor facilities. The chip giant had also announced plans to invest up to $4.6B to set up a semiconductor assembly and test facility in Poland, as part of its manufacturing expansion plan in Europe.
CRM +0.39% to $213 premarket June 29
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