San Francisco Seller Accepts Tech Stock for $2.995 Million Home as AI Share Rush Spreads
Updated
Updated · The New York Times · Jul 8
San Francisco Seller Accepts Tech Stock for $2.995 Million Home as AI Share Rush Spreads
3 articles · Updated · The New York Times · Jul 8
Summary
$2.995 million San Francisco home seller Nima Gabbay agreed to a deal with a third buyer after marketing the property as payable in OpenAI or Anthropic shares; the sale is set to close this week.
Two OpenAI employees initially approached him: one offered more than $1 million above asking but appeared to overvalue the stock, while the other 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 and join what he called a local "gold rush" around potential IPOs.
San Francisco's broader housing market has strengthened alongside that enthusiasm, with May home sales up 12.2% from a year earlier and the median single-family price reaching $2.14 million.