Silicon Valley

Meta is significantly expanding its AI infrastructure with a major deal for millions of Nvidia chips, including Grace CPUs and Vera Rubin systems. This collaboration aims to accelerate Meta’s goal of delivering “personal superintelligence” globally. The multi-billion dollar agreement deepens a long-standing partnership, with Meta becoming a key deployer of standalone Grace CPUs. This move supports Meta’s extensive U.S. data center expansion and diverse AI hardware strategy, which also includes exploring Google TPUs and in-house silicon.

Toll Brothers has launched Parkside West, a new luxury condominium community in Milpitas, Silicon Valley, offering two to four-bedroom homes starting at $1.19 million. These townhome-style residences boast modern amenities, attached garages, and optional ADUs. The development emphasizes convenience with proximity to transit and freeways, alongside a personalized design studio experience. This expansion targets the high demand for premium housing in the tech-centric region, navigating market nuances like rising costs and evolving buyer preferences.

San Jose Mayor Matt Mahan opposes a proposed 5% wealth tax on California billionaires. He argues it will harm residents and the innovation economy, potentially increasing costs for working families. The measure, aiming to fund healthcare, faces criticism for potentially taxing unrealized capital gains. Tech leaders fear it will drive businesses and entrepreneurs out of state. While some support a wealth tax, concerns exist about its impact on startup founders with illiquid assets. The initiative requires significant signatures to appear on the ballot.

A proposed wealth tax in California, supported by Rep. Ro Khanna and labor unions, targets billionaires with a 5% levy on assets to fund healthcare. This initiative faces strong opposition from Silicon Valley tech leaders who warn of a talent exodus, with venture capitalists criticizing Khanna’s approach. The tax could affect unrealized gains for startup founders. While Khanna advocates for adjustments for startups, Governor Newsom expresses caution. Public support for taxing the wealthy is high, though Republicans are reportedly gaining ground in Silicon Valley. Khanna’s safe congressional seat, however, offers him electoral protection.

Salesforce CEO Marc Benioff apologized after suggesting the National Guard for San Francisco security, a proposal sparked by concerns raised by President Trump and amplified by a *New York Times* article. The initial comments drew criticism from local officials, Governor Newsom, and led to Ron Conway’s resignation from the Salesforce Foundation board, citing value misalignment. This ignited debate about federal intervention and San Francisco’s progressive values, intensified by comments from David Sacks and Elon Musk, highlighting Silicon Valley’s intersection with national politics. Benioff now affirms safety is the city’s responsibility.

Ensurge Micropower ASA (ENMPY) granted 10,390,000 incentive subscription rights to key employees under its 2025 plan. Primary insiders, including CFO Lars Eikeland (2,000,000 SRs) and EVP Arvind Kamath (2,100,000 SRs), received significant allocations. The company develops ultrathin, flexible solid-state lithium microbatteries, focusing on prototyping and small-scale manufacturing while planning to outsource large-scale production. Their technology development is based in Silicon Valley.

China’s “996” work culture (9 a.m. to 9 p.m., six days a week) is gaining traction in the U.S., particularly among Silicon Valley AI startups. Some companies openly advertise or require this demanding 72-hour workweek, with a readiness for “996” becoming a pre-screening factor for candidates. New York-based Rilla, an AI startup, explicitly requires over 70 hours per week. While extended hours are rising globally, American companies show more enthusiasm for this model than European ones, with some arguing even “996” is insufficient.

Newmark facilitated Zscaler’s 301,163 sq ft sublease for its new global HQ at 4301/4401 Great America Parkway in San Jose, Calif.—silicon Valley’s largest post-pandemic cybersecurity-driven office deal. The move signals tech firms’ strategic return to premium spaces amid hybrid work norms, aiming to centralize operations, boost talent retention, and accelerate AI innovation. Vice Chairman Mike Saign and Senior Managing Director Rich Hoyt led the transaction, highlighting Zscaler’s focus on physical-collaboration synergy. Despite Silicon Valley’s office market challenges, this deal showcases demand for specialized spaces aligning with high-growth sectors like cloud security.