In a historic shift for the technology sector, the New York metropolitan area has overtaken the San Francisco Bay Area as North America’s largest tech-talent workforce by headcount. According to CBRE’s “Scoring Tech Talent 2026” report, New York’s tech workforce grew by 30,640 between 2022 and 2025, reaching 394,300, while San Francisco’s contracted by 23,900 to 375,730.
Wall Street as the New AI Hub
New York’s rise reflects a more diversified tech economy compared to the Bay Area. While 61% of San Francisco’s tech talent works directly for high-tech firms, New York’s workforce is spread across various sectors, most notably financial services. Banks and insurance firms are increasingly competing with Silicon Valley for specialists capable of putting AI into production within highly regulated environments.
Jamie Dimon, CEO of JPMorgan Chase, recently highlighted this trend, stating the bank will likely hire more AI specialists and fewer bankers in certain categories. JPMorgan’s Data & AI organization is already deploying teams focused on Large Language Model (LLM) applications, fraud models, and risk systems.
Efficiency and the Human Cost
The financial impact of this shift is becoming measurable. Bank of America reported a 360-basis-point improvement in its efficiency ratio, attributed to AI capabilities that allow over 200,000 employees to work more effectively. However, this progress is met with growing skepticism from the younger workforce. A new Pew Research Center survey reveals that 55% of Americans under 30 are now more concerned than excited about AI, with 73% believing the technology will lead to fewer jobs over the next two decades.
Despite losing the lead in total headcount, San Francisco remains No. 1 in CBRE’s broader tech talent ranking. The Bay Area continues to lead in talent concentration, wages, and AI strength, holding 26% of AI-specialty job postings across the U.S. and Canada, compared to New York’s 17%.
