Posted 2/4/2024, 10:00:00 AM
AI Startups Flock to San Francisco, Rapidly Expanding Office Footprint
- AI startups rapidly expanding office space in San Francisco, leasing up 46% in 2023 to 3.6 million square feet
- AI companies made up nearly a third of all SF leasing activity in 2023 due to big deals by OpenAI and Anthropic
- 20% of national AI talent located in Bay Area, near AI-rich universities like Stanford and UC Berkeley
- Downtown SF economic activity makes up about 75% of city’s GDP, so more office space brings more business
- AI startups moving to SF to be closer to talent pool, with companies like Andi and Cohere opening offices there