San Francisco-area estate sells for $70m in sign of AI-fueled wealth explosion

New owner is said to be involved in AI industry, as new class of multimillionaires is entering the real estate race

A luxury Lake Como-inspired estate in the San Francisco Bay Area has sold to a buyer “in the AI world” for a record $70m, in the latest sign of a new tech wealth boom that’s pushing home prices to extraordinary heights in the region

The property south of San Francisco not only becomes the most expensive sale in its affluent town of Hillsborough, doubling a previous record, but is also the most expensive sale in northern California this year, according to listing agent Jennifer Gilson of Golden Gate Sotheby’s International Realty.