A recent CBRE report revealed that New York City has overtaken the San Francisco Bay Area as the leading U.S. market for tech talent for the first time in 13 years. New York’s office market now supports 394,300 tech-related jobs, surpassing San Francisco’s 375,730. This shift is largely driven by growth in artificial intelligence (AI) roles, with the finance sector in New York actively hiring tech and AI workers amid layoffs and contraction in the Bay Area tech industry.

AI-specific roles have surged dramatically, increasing by 45% across the U.S. and Canada in the past year. Both New York and San Francisco have each added over 20,000 AI jobs since mid-2025, contributing to a total of 751,000 AI-related workers in these countries by June 2026. Nearly one-third of all tech job listings nationwide are now AI-related, with 37% of these roles based in four major U.S. tech hubs: San Francisco, New York, Seattle, and Washington. In Canada, AI job concentration is strongest in Toronto, Montreal, and Vancouver.

The rising demand for AI talent has spurred office leasing activity in these key markets. In San Francisco, AI companies accounted for 58% of leasing in the first half of 2026 and have driven about 30% of leasing since 2023, totaling approximately 10 million square feet. Unlike the broader tech sector’s remote work trend accelerated by the pandemic, AI firms emphasize in-person collaboration, contributing to a rebound in office occupancy. Other prominent AI leasing markets include Manhattan, Boston, and Seattle.

Despite concerns that AI could reduce overall employment and office space needs, the new technology is currently expanding job opportunities, especially in finance, and prompting growth in office leasing. CBRE’s executive director Colin Yasukochi highlighted that AI is reshaping tech roles rather than eliminating them, supporting innovation through more intensive in-office work cultures. This dynamic is reshaping real estate and employment landscapes in several major metropolitan areas across North America.