Silicon Valley Tenant Demand Hits 11.9MM SQFT, 20% Above Pre-Pandemic Peak as AI Requirements Jump 67%

Silicon Valley's pool of active office and R&D tenant requirements has swelled to about 11.9 million square feet, roughly 20 percent above the average of the pre-pandemic bull run, as AI firms, chipmakers and large occupiers line up for space in a market with little new supply on the way.