Sales force Ventures is increasing its investment in AI once more.

Salesforce Ventures is significantly increasing its investment in artificial intelligence, now totaling $1 billion. The tech giant’s investment arm has announced a new $500 million AI fund, building on a previously established $250 million fund from March 2023 aimed at generative AI startups. Initially, Salesforce Ventures planned to invest in companies like Anthropic, Cohere, Hearth.AI, and you.com. However, just three months later, they decided to double the size of the AI fund to $500 million.

This move underscores the ongoing high demand for AI investments, even as overall venture funding faced challenges in August. AI startups alone raised $4.3 billion, making up about 24% of total venture funding, according to Crunchbase data. Salesforce Ventures has been a key contributor to this trend, participating in 10 AI-related deals, including recent investments in Ensemble AI and Protect AI.