Source: Bloomberg
Anthropic, OpenAI, and peers have consumed 7% of London's available office inventory in just two months. That velocity is typical of real-estate developers, not startups. These companies are building concentrated physical infrastructure in a single global hub rather than distributing work remotely, which suggests they need proximity for recruitment, regulatory access, and talent clustering in ways that still require geography despite digital tools. London's commercial real estate market is tightening. Either other tech employers and traditional offices get priced out, or London becomes a specialized AI-first city rather than a generalist tech hub.