San Francisco’s AI boom is driving up the cost of living, making it difficult for even six-figure tech workers to afford rent. A recruiter and her software engineer partner, earning a combined $365,000, couldn’t find an apartment under $5,000 a month. The city’s average rent is $3,827, and the median home price is $1.7 million. The potential IPOs of OpenAI and Anthropic could further concentrate wealth, driving prices higher. Why it matters: this trend highlights the widening wealth gap in the tech industry, where a small elite is reaping massive benefits while others are being priced out of the market.