Salesforce (CRM) has started hiring employees as part of its major AI push into Saudi Arabia. The customer relationship management software provider is building its regional headquarters in Riyadh and aims to hire 40 employees. Earlier, the company disclosed plans to invest $500 million over the next five years to fuel AI adoption and digital transformation.
The company has appointed Ibrahim Alseghayr, a former SAP SE (GB:0NW4) executive, as regional VP and managing director. His expertise will help drive CRM’s expansion in Saudi Arabia.
Salesforce’s Plans for Saudi Arabia
Saudi Arabia is emerging as a global AI powerhouse, rapidly expanding data centers and cloud infrastructure, to support its $100 billion AI initiative. Salesforce seeks to benefit significantly from the region’s AI expansion.
CRM is bringing its Hyperforce cloud platform to Saudi Arabia, enabling firms to run AI workloads locally while staying compliant with regulations. This initiative is backed by Amazon Web Services (AWS), ensuring secure and scalable cloud infrastructure.
Also, the company is introducing Agentforce, its AI-driven workforce augmentation tool, which helps businesses scale operations with autonomous AI agents.
Beyond technology, Salesforce is investing in AI education and workforce development, aiming to train 30,000 Saudi citizens in AI-related skills.
Is CRM a Good Stock to Buy Now?
Turning to Wall Street, CRM stock has a Moderate Buy consensus rating based on 32 Buys, eight Holds, and three Sells assigned in the last three months. At $361.24, the average Salesforce stock price target implies a 29.84% upside potential.
