More AI companies are circling the San Francisco market showing a potential expansion of more than half a million square feet. - United States
More AI companies are circling the San Francisco market showing a potential expansion of more than half a million square feet.
More AI requirements are currently circling the San Francisco market. Of those companies, nearly a half a million square feet of could translate into potential expansion. Technology accounts for 34.9% (AI included) of the total requirements in the market with FIRE tenants (financial, insurance, real estate and engineering) and law being the second largest users.
Venture capital funding in the Bay Area rose nearly 30 percent to $21.5 billion in the first quarter of 2023 with AI companies accounting for more than $3 billion of that total. In 2022 the amount of private investment nationally in AI was 18 times greater than it was in 2013.
In 2022, California reported the most AI job postings at 142,154 followed by Texas and New York. The U.S. also continues to lead in terms of total number of newly funded AI companies, seeing 1.9 times more than the European Union and the United Kingdom combined, and 3.4 times more than China.