AI Industry Revives San Francisco Real Estate with 46% Surge in Leases
February 4, 2024
San Francisco's commercial real estate has been struggling with high vacancy rates since the pandemic.
AI companies are bucking the trend with a 46% increase in office space leased in 2023.
The growth in the AI sector is attributed to the Bay Area's rich AI talent pool and leading academic institutions.
AI industry's expansion is poised to significantly boost San Francisco's economy, potentially contributing to 75% of its GDP.
The rising AI sector is drawing in other businesses, exemplified by Y Combinator's decision to relocate to the city.
The influx of AI businesses is transforming San Francisco's commercial real estate market and spurring economic growth.
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