Employees at artificial intelligence companies are coming into gargantuan sums of money amid boom in IPOs

Home prices in the San Francisco Bay Area’s already expensive market are skyrocketing as employees at leading artificial intelligence companies come into gargantuan sums of money thanks to a boom in initial public offerings.

With San Francisco’s OpenAI and Anthropic, as well as SpaceX, which operates a major facility in the Los Angeles area, eyeing debuts on the stock market, the hot housing market may not abate soon. If their initial public offering (IPO) is well-received, the companies’ multibillion-dollar valuations are poised to produce massive wealth for employees and executives holding shares, which experts say could trigger an uptick in demand for the Bay Area’s limited housing stock.

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© Photograph: Ethan Swope/Getty Images

© Photograph: Ethan Swope/Getty Images

© Photograph: Ethan Swope/Getty Images

High temperatures across the San Francisco Bay Area will reach into the 90s on Thursday, forecasters said.

© Lea Suzuki/San Francisco Chronicle, via Associated Press

Swimming 900 miles won’t be “the worst way to spend four months,” Catherine Breed says — as long as the great whites, jellyfish and elephant seals leave her alone.