San Francisco is getting a shot in the arm from AI companies looking for office space in a city clamoring for a recovery.
Hex, a startup focused on data and artificial intelligence, is the latest tech company to bolster San Francisco’s reeling downtown district.
San Francisco’s recently desolate downtown has perked up lately, with foot traffic returning to tourists spots, cable cars and ferryboats. Public transit also has ticked higher as more workers return to office buildings and as the city works to keep streets cleaner and feeling safer.Real-estate firm Jones Lang LaSalle Inc. JLL, +2.89%, which facilitated the new 2.
That contrasts with fresh enthusiasm for AI technologies like ChatGPT, which helped push Nvidia Corp’s NVDA, +4.16% stock on Tuesday to a record close and a $1.2 trillion market capitalization for the first time. Its corporate offices are about 45 miles southeast of San Francisco in Santa Clara, Calif.
However, Mayor London Breed’s new $14.6 billion budget includes tax breaks for some small-and medium-size businesses in San Francisco and incentives for companies that moved away from the city to return.
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