OpenAI + Anthropic now occupy 2x Salesforce's SF office space: AI reshapes GTM geography

The Gist

• Salesforce cut 55% of SF office space since 2019 (2.2M to 1.0M sq ft)
• OpenAI (1.2M) + Anthropic (950K) now exceed Salesforce's footprint by 2x
• Six of 2019's top 10 SF office tenants cut space by 30%+ or left entirely

• OpenAI and Anthropic now occupy more than twice the office space of Salesforce in San Francisco, signaling a shift in the tech landscape towards AI.
• Salesforce's office space in San Francisco has decreased from 2.2M sq ft in 2019 to 1.0M sq ft in 2026, reflecting broader trends in remote work and company restructuring.
• The total office space occupied by the top 10 tenants in San Francisco has contracted by 39%, even with the addition of AI labs like OpenAI and Anthropic.
• AI is the only category expanding physically in San Francisco, with OpenAI and Anthropic being the only new entrants in the top 10 office tenants.
• The Bay Area engineering talent flow has shifted, with AI labs now being the primary competitors for senior engineering talent.
• The legacy enterprise contraction is durable, with companies like Salesforce, Wells Fargo, and Uber unlikely to return to their previous office space levels.

• Recruit senior engineering talent with the understanding that AI labs like OpenAI and Anthropic are now the primary competitors in San Francisco.
• Consider the durable shift towards smaller headquarters, remote work, and regional hubs when planning your company's physical footprint.
• Invest in AI as it is the only category expanding physically in San Francisco, indicating a significant shift in value creation.
• Recognize that Salesforce remains a significant player in San Francisco despite its reduced office space, and continue to monitor its strategic moves.

• 2.2M sq ft (Salesforce's office space in San Francisco in 2019.)
• 1.0M sq ft (Salesforce's office space in San Francisco in 2026.)
• 1.2M sq ft (OpenAI's office space in San Francisco.)
• 950K sq ft (Anthropic's office space in San Francisco.)
• 39% (Contraction in total office space occupied by the top 10 tenants in San Francisco.)