The artificial intelligence boom is reshaping the Bay Area housing market in more ways than one, as sellers opt to ask for AI stock rather than money for their homes.
A 2,495-square-foot home at 160 Noe Street in San Francisco’s Duboce Triangle is on the market for just shy of $3 million, available to be paid either traditionally or with Anthropic or OpenAI stock, Business Insider reported. The offering went public last week, and in less than 24 hours, listing agent Rachel Swann says she was bombarded with interest from potential buyers.
“My phone has been blowing up,” Swann told Business Insider. “It seems to be something that’s very exciting for people.”
The 1907-built home boasts three bedrooms and two bathrooms across nearly 2,500 square feet. The home includes a two-car garage as well as new plumbing, electrical and HVAC systems in the walls, part of a recent two-year renovation effort.
The seller is an unidentified developer who is confident in the futures of both OpenAI and Anthropic, according to Swann. The idea to accept stock for the house came from the seller seeing OpenAI and Anthropic employees and investors looking for places to live in an increasingly competitive housing market, Swann said.
OpenAI had a valuation of $852 billion as of March, up from $29 billion three years prior. Anthropic’s valuation recently reached $965 billion. Both AI giants have been gobbling up office space in San Francisco and beyond over the past year, both crossing the 1-million-square-foot threshold in San Francisco earlier this spring.
The listing follows another home in Mill Valley that hit the market in April similarly looking for Anthropic shares as a form of payment. Miami-based investment banker Storm Duncan pitched his 13-acre property at 114 Inez Place for sale in exchange for Anthropic stock. A target amount of shares, as well as an equivalent price in dollars, was not revealed.
Anthropic and OpenAI have been racing toward an initial public offering in recent years. On Monday, Dario Amodei-led Anthropic filed its paperwork to go public, the New York Times reported. — Chris Malone Méndez
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