Generative AI pioneer OpenAI, which this month began a new funding round by setting its valuation at $150B, has doubled down on its rapidly expanding footprint in San Francisco with the largest office lease of the year in the city.
The ChatGPT maker has inked a deal for a 315K SF building at 550 Terry A. Francois Boulevard, a property in Mission Bay less than a block away from where Open AI is subleasing 485K SF from Uber, the San Francisco Business Times reported.
OpenAI's deal late last year with Uber for 1455 and 1515 Third Street was the largest lease of 2023 in San Francisco's struggling office market, where the generative AI boom is driving leasing demand but has yet to put a significant dent in the record-high vacancy rate.
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