As artificial intelligence (AI) continues to progress, there is a growing recognition of the significance of multimodal foundation models (MFMs; e.g., GPT-4 Vision (GPT-4V)) that can effectively process and integrate different data modalities, such as visual and textual inputs. In particular, the integration of vision and language has demonstrated enormous potential for many geospatial applications, including navigation, urban planning, and disaster response. To harness this potential, this study proposes a multimodal learning framework wtih geospatial intelligence to develop MFMs enhanced by geospatial AI (GeoAI), which can understand and fuse geospatial knowledge from both visual and language inputs. Within this framework, we design a novel method — spatially explicit contrastive learning — to fine-tune a vision-language foundation model, i.e., Contrastive Language-Image Pretraining (CLIP), aiming to develop GeospatialCLIP tailored for understanding geospatial tasks. As a result, our proposed model extends CLIP’s capabilities to learn geospatial semantics for location-based reasoning and land use understanding in urban areas. Moreover, our work sets a new benchmark for the development of GeoAI MFMs, which are capable of comprehending and interpreting large-scale multimodal datasets (e.g., 180k geospatial image-text pairs worldwide) that are augmented by GPT-4V across various geospatial tasks, including image geo-localization, mixed land use detection, and urban perception prediction. By encoding spatial contextual information into text embeddings via geospatial image reasoning, this spatially explicit approach significantly enriches the model’s geospatial knowledge, enabling a deeper level of geospatial insight unlocked for MFMs. Lastly, we examine spatial-context prompt tuning on GeospatialCLIP, which in turn yields more accurate mixed land use predictions, demonstrating the untapped potential of spatial prompts in addressing complex geospatial challenges.