Viral late-bubble trend emerges: Pre-IPO OpenAI stock used to buy homes in San Francisco. Jim Chanos compares AI infrastructure boom to 1990s telecom overbuild.

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Buying homes with pre-IPO OpenAI stock? New trend going viral in San Francisco

The Bay Area’s real estate market is notoriously competitive, and the artificial intelligence boom is taking it to a whole new level.

Would-be buyers are getting turned down because others are making offers in AI stock.

A text shared on social media is now going viral and exposing a new reality in the San Francisco real estate market.

In it, a tech company founder shows a conversation with his realtor in which he was told his bid for a Noe Valley home, which was $400 thousand over asking price, was denied.

The realtor responds saying the seller instead went with a buyer who paid in pre-IPO stock of OpenAI.

“I think the motivation is to get the jump on things,” said Kevin O’Connor.

 

 

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