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Salesforce also doubled its VC funding for generative AI startups from $250 million to $500 million.

Salesforce, one of the leading cloud-based companies globally, introduced its latest offering on June 12, dubbed ‘AI Cloud’ – a generative artificial intelligence (AI) solution aimed at “supercharging customer experiences and company productivity” for its enterprise clients.
 

Salesforce’s AI Cloud Starter Pack Will Cost $360,000 per Year

Salesforce announced on Monday the launch of AI Cloud – a new set of products aimed at delivering enterprise-ready AI technology and reinforcing the company’s position in the world’s hottest sector. Shares of Salesforce slightly advanced by 0.4% in premarket trading following the announcement.

The move marks the latest Salesforce effort to expand its product portfolio with AI features. However, it is also seen as a continuation of the company’s generative AI solution, Einstein GPT, which was rolled out in March.

“It’s really about bringing generative AI in a trusted fashion to the enterprise,” “We’re moving incredibly fast to leverage the history we have in AI and build this into our stack in a trusted fashion.”

– Adam Caplan, SVP of emerging technology at Salesforce, said in an interview with TechCrunch.

According to the press release, the new offering will include Salesforce’s products from the Einstein GPT, to the communication and collaboration platform Slack, and data analysis service Tableau. The starter pack version of AI cloud will be priced at $360,000 annually, Salesforce said.
 

Salesforce Doubles its Funding for Generative AI Startups

In addition to AI Cloud, Salesforce announced it has doubled its venture capital (VC) fund for generative AI startup companies to $500 million. Salesforce CEO Marc Benioff said AI “is reshaping our world and transforming business in ways we never imagined,” adding that “ every company needs to become AI-first.”

AI has been growing rapidly for several years, but it received a major boost late last year following the unprecedented success of ChatGPT – an AI chatbot developed by OpenAI. ChatGPT’s rise to glory left all major tech giants and startups racing to develop their generative AI products and compete for their piece of the pie.

Last month, Goldman Sachs analysts said the nascent AI field could boost US corporate net margins by 4% over the next 10 years and become the biggest long-term support for companies’ profits. On the other hand, analysts added that a near-term growth boost is looking unlikely due to current macroeconomic challenges.

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