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There’s a new gold rush mentality sweeping the Bay Area, but this time people aren’t panning for gold — they’re chasing OpenAI and Anthropic stock. As OpenAI and Anthropic move closer to potential IPOs, Silicon Valley is bracing for a wave of newly minted millionaires. And some San Francisco homeowners are trying to get in before that happens, according to The New York Times.
When real estate investor Nima Gabbay listed his three-bedroom San Francisco home for nearly $3 million, he added an unusual offer: He would accept shares of OpenAI or Anthropic as payment. Two OpenAI employees reportedly tried to make a deal, including one who offered more than $1 million over asking.
“There’s a bit of a gold rush situation right now in San Francisco,” Gabbay told The New York Times.
San Francisco home sales above $10 million have doubled over the past six months, and one home recently sold for $15 million, nearly twice its asking price.
Some sellers believe AI stock could appreciate faster than real estate itself. One Sonoma County homeowner even offered a $500,000 discount off his asking price if a buyer paid with Anthropic shares.