Nvidia Offices Expanding to San Jose

Nvidia is expanding its South Bay footprint. The AI powerhouse is making big waves in North San Jose as the company just signed a lease for a nearly 100,000-square-foot building on Holger Way, right off Highway 237.

Nvidia has been on a tear since 2023 as their stock has grown by 10x in under 24 months (hopefully you caught a piece of it!), which in turn has pumped thousands of qualified home buyers into the housing market in the South Bay. I personally just had a listing in Santa Clara and the buyer was an Nvidia employee, they paid $2.3mill cash for my listing and apparently, it was the 2nd property they had bought in 2024. Wowwwww. This year Nvidia earned $63.1 billion in profits (on a revenue of $113.27 billion). Let's just say Nvidia's been doing ok, and they've been expanding in a big way lately. In May, Nvidia paid $374.3 million to buy eight buildings in Santa Clara near their main campus off San Tomas Expressway.

So, what does this mean for us?

More jobs, more people, more vibrancy: Nvidia’s growth—and similar commercial real estate expansion by companies like Amazon and Snowflake lately—will likely bring more talent and opportunities to our area.
A boost for real estate: Whether it’s residential or commercial, an influx of innovation and jobs often sparks demand for homes and offices. Possibly raising prices in the long term.

Pretty wild stuff. Just as recently as 2019/2020 some people thought Nvidia was gonna go away completely, now basically everyone that has worked there for more than two years can buy a pretty nice house in Silicon Valley.

Must be nice! As always, I’m here to help you navigate the ever-evolving South Bay market, let me know what you think!