That's just a big long reverb and delay, maybe a bit of chorus, a nice guitar (a moderately nice guitar will sound very nearly as good and can be had for a few

That's just a big long reverb and delay, maybe a bit of chorus, a nice guitar (a moderately nice guitar will sound very nearly as good and can be had for a few hundred bucks...a used Made-in-Mexico Tele would do the trick for $300-$400), and a soft fingerstyle playing technique. The playing style is at least as responsible for the gentleness of the sound as any of the effects or the guitar itself. The spacey/shimmery sounds come from the big reverb and maybe chorus. You can replicate those effects with lots of free or low-priced VSTs. Ableton probably includes reverb, a delay, and chorus plugin, as they're very simple to implement and pretty low overhead.