financetom
Business
financetom
/
Business
/
Salesforce plans $500 million in AI-related investments in Saudi Arabia
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Salesforce plans $500 million in AI-related investments in Saudi Arabia
Feb 10, 2025 7:59 AM

Feb 10 (Reuters) - Cloud software seller Salesforce ( CRM )

said on Monday that it plans to invest $500 million in

Saudi Arabia related to artificial intelligence, as countries

compete to secure investments in the nascent but critical

technology.

As part of the investment, Salesforce ( CRM ) will introduce

Hyperforce, its platform architecture delivered through a

strategic partnership with Amazon Web Services, in the country.

There has been a spate of announcements of new investments

in AI, as eagerness to strongly regulate the nascent technology

has waned, especially after U.S. President Donald Trump revoked

his predecessor's 2023 executive order that had put guardrails

around the technology.

Salesforce ( CRM ) will also partner with Capgemini, Deloitte,

Globant, IBM, and PwC to expand the use of Agentforce, its

product for customer service agents. It will also provide

support in Arabic language for its AI-related product suite.

The company made the announcement on Thursday at Saudi's

global tech event, LEAP 2025, where the country attracted $14.9

biilion worth of new AI investments.

Earlier this month, Salesforce ( CRM ) said it planned to setting up

a regional headquarters in Riyadh and upskill 30,000 Saudi

citizens by 2030.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Nutex Health Posts Rise in Q4 Earnings, Revenue
Nutex Health Posts Rise in Q4 Earnings, Revenue
Mar 31, 2025
04:44 PM EDT, 03/31/2025 (MT Newswires) -- Nutex Health ( NUTX ) reported Q4 diluted earnings Monday of $11.12 per share, compared to a loss of $7.47 a year earlier. Revenue for the quarter ended Dec. 31 was $257.6 million, up from $69.7 million. ...
Hillenbrand Closes Sale of Majority Stake in Milacron for $287 Million
Hillenbrand Closes Sale of Majority Stake in Milacron for $287 Million
Mar 31, 2025
04:42 PM EDT, 03/31/2025 (MT Newswires) -- Hillenbrand ( HI ) completed the sale of its majority interest in the Milacron injection molding and extrusion business to Bain Capital for $287 million. Proceeds will be used to pay down debt, Hillenbrand ( HI ) said Monday in a statement. This transaction reflects the continued transformation of Hillenbrand's ( HI )...
Calvin Klein Parent PVH Shares Climb On Strong Q4, FY25 EPS Guidance Above Estimates
Calvin Klein Parent PVH Shares Climb On Strong Q4, FY25 EPS Guidance Above Estimates
Mar 31, 2025
PVH Corp. ( PVH ) released its fourth-quarter results after Monday's closing bell. Here's a look at the key figures from the report.  The Details: Calvin Klein and Tommy Hilfiger parent company PVH reported quarterly earnings of $3.27 per share, which beat the analyst consensus estimate of $3.21. Quarterly revenue came in at $2.37 billion, which beat the analyst consensus estimate of $2.33 billion. Read Next: Trump...
PVH Q4 Tops Estimates; Issues Outlook; Shares Rise After-Hours
PVH Q4 Tops Estimates; Issues Outlook; Shares Rise After-Hours
Mar 31, 2025
04:42 PM EDT, 03/31/2025 (MT Newswires) -- PVH (PVH) reported fiscal Q4 non-GAAP diluted earnings Monday of $3.27 per share, down from $3.72 a year earlier. Analysts polled by FactSet expected $3.21. Revenue for the quarter ended Feb. 2 was $2.37 billion, down from $2.49 billion. Analysts surveyed by FactSet expected $2.33 billion. The company said it expects non-GAAP EPS...
Copyright 2023-2026 - www.financetom.com All Rights Reserved