Apparently, fueling the artificial intelligence boom is not enough. Nvidia has to be neighbors with its most high-profile customers as well.
The Santa Clara-based chipmaker has finalized its first office lease in San Francisco, according to sources. Nvidia will occupy 45,000 square feet at Building B at 1090 Dr. Maya Angelou Lane in Mission Rock.
It’s not known how Nvidia intends to use the site, but given the relatively small size and proximity to the headquarters of OpenAI, Anthropic, Sierra, and other AI companies, it will likely be a sales office or events hub, rather than an engineering or R&D base.
Nvidia declined to comment. Real estate firm Tishman Speyer, which handles leasing at the property, which it developed with the San Francisco Giants, did not respond to a request for comment.
The lease, which has been in the works for months, comes on the heels of Nvidia’s third-quarter earnings report (opens in new tab), in which better-than-expected profits pushed the company’s valuation beyond $5 trillion.
Nvidia, which controls about 90% of the market for chips used in AI technology, had third-quarter profit of $31.9 billion, up 65% from the same period in 2024 and 245% from Q3 2023.
During its astronomical rise, Nvidia has spent more than $1 billion acquiring real estate in and around its Santa Clara headquarters. Sources say the company is scoping out more real estate in south San Jose, a market that skews industrial.
With the Nvidia deal, there are roughly 30,000 square feet of office space left to fill at Building B. The Golden State Warriors and Coinbase, which moved in this year, were the first to lease space after the building opened.
The vacancy rate in Mission Bay is 9.1%, according to Cushman & Wakefield, versus the citywide rate of 33.6%. The average asking rent in the neighborhood is nearly twice the citywide average of $67.
Tech companies with large-scale office footprints have been opening up portions of their facilities to host AI startups and events. Snowflake, for example, branded a 30,000-square- foot floor at its new Menlo Park headquarters as a “Silicon Valley AI Hub.”