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Salesforce Ventures ups its AI fund to $1B, doubling it again | TechCrunch

Sep 17, 2024 - news.bensbites.com
Salesforce Ventures, the VC arm of Salesforce, has announced a new $500 million fund dedicated to AI companies at the Dreamforce tech conference in San Francisco. This doubles the AI fund to $1 billion, compared to the $5 billion total deployed since its 2009 launch. Salesforce Ventures is contributing to making San Francisco a hub for AI companies, with startups worldwide relocating to the city. Its AI portfolio includes companies like Anthropic, Hugging Face, Runway, and Together AI.

In other tech news, Snap, Snapchat’s parent company, is expanding its AI tools for creators and Snapchat is rolling out a simplified version of the app. AWS is shutting down its AI-powered keyboard experiment, DeepComposer. Google plans to flag AI-generated images in search results. Workday is acquiring AI-powered contract management platform Evisort, and IBM has acquired Kubernetes cost optimization startup Kubecost. Instagram is introducing Teen Accounts to provide built-in protections for young users.

Key takeaways:

  • Salesforce Ventures has announced a new $500 million fund dedicated to AI companies, bringing its total AI fund to $1 billion.
  • The venture arm is contributing to making San Francisco a hot spot for AI companies, with startups worldwide relocating to the city.
  • Its AI portfolio includes notable companies such as Anthropic, Hugging Face, Runway, and Together AI.
  • Snapchat is expanding its suite of AI tools for creators, introducing new features like Easy Lens and AI video-generation tool for creators.
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