Salesforce Inc CRM shares are trading higher Tuesday. The company said it will raise prices for some of its cloud and marketing tools next month.

What Happened: In an update posted on its website, Salesforce said it plans to raise list prices on Sales Cloud, Service Cloud, Marketing Cloud, Industries and Tableau by an average of 9% in August.

The price increases will be the first in seven years. Salesforce noted that it has delivered 22 new releases since it last raised prices. 

Salesforce also highlighted progress on AI in the same release. The company said it's exploring how generative AI can improve efficiency and productivity and is focused on helping customers adopt and deploy AI in their businesses. 

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CRM Price Action: Salesforce shares were up 3.05% at $219.37 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Salesforce.