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

The property was originally listed for $88m and sat on the market for only about five months. Photograph: Courtesy of Nxt Gen Media

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.