Nvidia is grabbing more real estate surrounding its Silicon Valley headquarters, apparently undaunted by the economic uncertainty that’s prompted other big tech players to cut thousands of workers in recent months.
The chip-making giant has instead continued to expand its regional footprint, most recently paying $123 million in cash for an office and research park at 2348 and 2350 Walsh Ave. in Santa Clara, the San Jose Mercury News reported.
The business park is a collection of low-slung buildings across the street from Nvidia’s spaceship-like headquarters at 2788 and 2888 San Tomas Expressway. The park contains 10 buildings totaling just over 250,000 square feet, according to a marketing brochure. They last changed hands as part of a large portfolio of properties purchased by Blackstone in 2022.
In the first three months of 2025, tech companies such as Meta, Google and Intel cut more than 11,000 jobs, according to a Beacon Economics estimate derived from state labor agency estimates.
Big companies are still correcting for over-hiring during the COVID-19 pandemic, and economic uncertainty heightened by President Donald Trump’s tariff policies is prompting a reevaluation of space and labor needs.
But Nvidia, a maker of computer chips that power much of today’s artificial intelligence boom, has continued to grow as the world’s most valuable semiconductor company pulls further ahead of former rivals. In January, the company snapped up four properties plus a parking garage on San Tomas Expressway in Santa Clara.
Buying buildings
It purchased its longtime headquarters on the same stretch about a year ago for a record $374.3 million for seven properties totaling roughly 626,200 square feet. The neighboring flat, futuristic buildings that make up its main headquarters are named Voyager and Endeavor after the ships in the iconic Star Trek TV series.
The firm is also giving a much-need boost to the region’s office market through leasing. It signed a lease late last year to take over the more than 100,000-square-foot property at 300 Holger Way in San Jose, Silicon Valley’s largest city, as it races to accommodate a surge in sales and hiring.
Nvidia has also said it plans to spend as much as $500 billion over the next four years building what it calls AI supercomputers entirely in the United States. It has commissioned more than a million square feet of manufacturing space to produce and test its products in factories operated by suppliers in Arizona and Texas.
The company said it is already making its Blackwell chips at a plant in Phoenix run by Taiwan Semiconductor Manufacturing Co. and is building plants in Texas, with Foxconn in Houston and Wistron in Dallas. Nvidia said it expects mass production at both plants to ramp up in the next 12 to 15 months.
“The engines of the world’s AI infrastructure are being built in the United States for the first time,” Nvidia CEO Jensen Huang said in a statement.
The CEO added that “adding American manufacturing helps us better meet the incredible and growing demand for AI chips and supercomputers, strengthens our supply chain and boosts our resiliency.”