Knowing stock market today at a glance

Salesforce Stock Hits New High Amid Bold Middle East Expansion and AI Investment Strategy

Mover TrackerMonday, May 12, 2025 7:24 pm ET

1min read

Salesforce's stock recently saw a 4.87% increase, reaching its highest price since March 2025. This performance comes amidst significant strategic developments for the company.

In a noteworthy move, Salesforce has commenced team formation operations in Saudi Arabia, an integral part of its ambitious five-year, $500 million investment plan aimed at accelerating the adoption of artificial intelligence (AI) technologies in the region. The initiative underscores Salesforce's commitment to expanding its footprint in the Middle East and aligning with local tech advancement goals.

Mohammed Alkhotani, Senior Vice President of Salesforce Middle East, revealed that the U.S.-based software giant will establish a regional headquarters in Riyadh. The company plans to recruit around 40 employees by the end of the year as part of this expansion. This step is not only a testament to Salesforce's growth strategy, but also to its dedication to fostering local expertise through recruitment and specialized training programs.

Moreover, Salesforce has appointed Ibrahim Alseghayr, a former executive at SAP, as Vice President and Managing Director for the Saudi region. His leadership is expected to play a crucial role in navigating the local market and spearheading the company's regional development strategy.

Salesforce's strategic efforts are well-aligned with Saudi Arabia's national AI development agenda, which involves substantial investments in data centers and cloud infrastructure. This synergy between Salesforce's objectives and the Saudi government's vision could pave the way for a prosperous partnership, ultimately enhancing the technological landscape in the region.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.