The Guardian learned about the rise in the price of housing in San Francisco due to the AI boom

The boom of artificial intelligence (AI) led to a sharp increase in the cost of renting housing in San Francisco (California, USA). The average rent for a one-bedroom apartment reached $ 4.4 thousand (about 375.8 thousand rubles) per month, increasing by more than 25% for the year, reports The Guardian.

The rise in prices is associated with high salaries of employees of technology companies and expectations of large payments after the possible release of AI companies on the stock exchange. Rental prices have risen especially in areas where the offices of major artificial intelligence developers, including Anthropic and OpenAI, are located.

Against the background of rising housing prices, the number of notifications about the eviction of tenants for the year increased by 44%.

In September, San Francisco Mayor Daniel Lurie proposed providing legal assistance to tenants, increasing payments to evicted tenants and limiting rent increases for individual apartments.

Due to high prices, teachers, nurses, restaurant staff and other workers are forced to rent accommodation with several neighbors or move out of town.

Earlier, Bridgewater hedge fund founder Ray Dalio in an interview with Bloomberg called the artificial intelligence boom a “classic bubble” and warned of the risk of its collapse. According to him, the development of AI is financed by significant borrowing, and rising interest rates increase risks. Among other possible reasons for the collapse, Dalio cited wealth taxes and the need to sell assets to get cash.