San Francisco Seller Accepts Tech Stock for $2.995 Million Home as AI Share Rush Spills Into Housing
Updated
Updated · The New York Times · Jul 8
San Francisco Seller Accepts Tech Stock for $2.995 Million Home as AI Share Rush Spills Into Housing
3 articles · Updated · The New York Times · Jul 8
Summary
$2.995 million seller Nima Gabbay agreed to sell his San Francisco home to a tech buyer after marketing it as payable in OpenAI or Anthropic shares, with closing set for this week.
Two OpenAI employees initially approached him: one offered more than $1 million above asking but appeared to overvalue the stock, while another withdrew after OpenAI filed to go public last month.
Gabbay said he added the stock-payment clause to gain exposure to fast-rising AI companies, calling San Francisco's current mood a "gold rush."
The listing emerged as San Francisco home sales in May rose 12.2% from a year earlier and the median single-family home price reached $2.14 million, underscoring how AI wealth is feeding into the local housing market.