San Francisco is buzzing again and this time, artificial intelligence is at the center of the storm. At this year’s San Francisco Tech Week, optimism, ambition, and money flowed freely through the city’s cafes, event halls, and rooftop bars. What was once a somber post-pandemic tech scene has transformed into a frenzy of AI-driven excitement.
Just a year ago, OpenAI’s valuation stood at $157 billion, and investors were still questioning whether the industry could recover from years of economic uncertainty. Today, OpenAI is reportedly valued at $500 billion a figure that has reignited the kind of confidence Silicon Valley hasn’t seen in years. For many, it feels like a new golden age for tech innovation.
“This year, there’s an energy I haven’t seen in a long time,” said Gwyneth Borden, founder and CEO of fintech startup Remynt. She spoke while standing on the bow of a ferry rented by Menlo Ventures and other investors, as attendees sipped drinks and watched the Blue Angels rehearse overhead. “There’s a lot of optimism and exuberance. The promise of what AI can do in transforming people’s lives is very exciting.”
Even when the air show was canceled due to the government shutdown, no one seemed to mind. For founders like Jerry Shu, CEO of Boston-based AI company Daylit, the view of the city and the wave of investor enthusiasm was enough. “It’s no longer just buzzwords,” Shu said. “Before, products were more talk, but now you can feel how strong it’s going to be. There’s probably never been a better time to be a founder than right now.”
The event itself has come a long way since its inception. Andreessen Horowitz the powerhouse venture capital firm known as a16z first launched San Francisco Tech Week in 2022 to promote its portfolio companies and rekindle excitement in a city many believed was losing its edge. At the time, empty offices and headlines about a “tech exodus” dominated the narrative.
“Many wrote SF off empty offices, headlines about decline,” a16z partner Katia Ameri wrote in an email to attendees this year. “Many questioned why we wanted to do SF Tech Week at all! Then AI hit escape velocity. Companies have taken millions of square feet, rents are rising, hacker houses are back.”
Three years later, SF Tech Week has become the largest of a16z’s city gatherings, surpassing its counterparts in New York and Los Angeles. With over 1,500 events on the schedule, it’s less a single conference and more a citywide festival of innovation. The only irony, as some attendees noted, is that in a city now saturated with AI founders and engineers, every week in San Francisco already feels like “Tech Week.”
“Everyone who lives here says it feels like any other week in San Francisco,” joked Amber Trivedi, founder of LifeSpark Labs, who flew in from San Diego to pitch investors. “But it’s great to have multiple events to make it worth the trip.”
The lineup was eclectic and unmistakably futuristic. Attendees could join robot-yoga sessions “a playful experiment blending movement, machines, and mindfulness” or network at SoMa dance parties where DJs shared the guest list with founders and venture capitalists. But the centerpiece of the week was a16z’s Speedrun Demo Day, where 61 founders, chosen from more than 14,000 applicants, had just two minutes each to pitch their startups.
“Over 90% of our companies were very AI focused,” said a16z investing partner Joshua Lu. “We’re in a tech supercycle with AI.”
Whether early in the morning at a breakfast panel or late into the night at a private rooftop event, one theme dominated every conversation: artificial intelligence. AI wasn’t just a talking point it was the gravitational center of everything happening in San Francisco.
“It’s a bit of a gold rush,” said Joanne Chen, general partner at Foundation Capital. “You could argue the valuations are too high and that investors are too enthusiastic.” But she quickly added what many in the room were thinking: “People realize that there’s going to be a lot of winners, but also a lot of losers.”
That sentiment captured the double-edged nature of this new AI-driven era. The excitement is real, but so is the risk. Just as in past booms from dot-coms to blockchain the line between innovation and overexuberance is razor-thin. Yet, despite warnings, the optimism coursing through the city feels unstoppable.
From crowded rooftop mixers to packed demo stages, San Francisco Tech Week 2025 reflected a city and an industry that’s rediscovered its spark. Whether this energy leads to sustainable growth or another cycle of hype remains to be seen. But for now, one thing is undeniable: the AI gold rush is here, and it’s showing no signs of slowing down.
