Five AI-focused startups, four backed by Y Combinator, recently leased 23,900 square feet at San Francisco's Waterfront Plaza complex.
AI firms are one of the few sectors expanding in San Francisco, leasing 1.6 million square feet last year and now occupying a total of 5 million square feet.
CBRE projects potential growth to 21 million square feet for AI startups within five years, which could significantly reduce the city's current 35.8% vacancy rate and create thousands of jobs.
Waterfront Plaza, a 442,000 square feet campus in San Francisco, has experienced tenant shifts with economic trends and previously hosted WeWork among its occupants.