SANTA CLARA — Nvidia, buoyed by sky-high profits and sales, has bought more South Bay buildings, a $700 million-plus real estate shopping spree that has given the tech titan a huge local footprint.
In the latest deal, Nvidia paid $254.3 million to buy three big office and research buildings, all located on San Tomas Expressway in Santa Clara, documents filed on May 6 with the Santa Clara County Recorder’s Office show.
Nvidia has been expanding its footprint in the South Bay, primarily through property purchases but also through leases.
Santa Clara-based Nvidia has now plunked down a stunning $747 million in almost precisely a year to buy properties in Santa Clara, where the company has its headquarters, a review of several completed transactions shows.
In every instance, the buildings that Nvidia has bought over the most recent 53 weeks are across the street or about a block away from the tech titan’s headquarters, a two-building complex with a futuristic look located at 2788 and 2888 San Tomas Expressway.
Here are some of the details of the Nvidia property purchases over an approximately one-year period. All the buildings are in Santa Clara.
Nvidia paid:
— $374.3 million in May 2024 for six buildings with addresses of 2770, 2806, 2880 and 2886 Scott Boulevard; 2001 Walsh Avenue; and 2220 Central Expressway.
— $123 million for a May 1, 2025 deal for 10 buildings whose addresses include 2348 and 2350 Walsh.
— $254.3 million to buy three buildings with addresses of 2711, 2721 and 2731 San Tomas in the just-completed May 6 transaction. Real estate legend The Sobrato Organization sold the buildings to Nvidia.
Nvidia’s string of purchases might stretch even further.
In January 2025, Sobrato Organization signed a contract whereby Nvidia would purchase four buildings on San Tomas.
Although Nvidia has bought three buildings, according to the property documents, the tech company has yet to purchase a building at 2701 San Tomas. This fourth building was part of the January 2025 agreement between Sobrato and Nvidia.
The four buildings that Nvidia had agreed to purchase in the January 2025 contract resemble each other and are all the same size.
This means it’s possible that a purchase by Nvidia of a fourth building owned by Sobrato at this location might be completed at an amount that’s in line the price Nvidia paid for the three buildings.
Nvidia also has been leasing some properties of late. The company’s rental deals include Nvidia’s lease of an office and research building at 300 Holger way in San Jose.
The short- and long-term plans that Nvidia might have for the properties it has bought weren’t immediately certain.
What is certain is that Nvidia’s profits and revenue have skyrocketed.
Over the 12 months that ended in January, Nvidia earned $72.89 billion on revenue of $130.5 billion, according to the Yahoo Finance site.
The company’s profits and revenue during the most recent one-year period both more than doubled compared to the 12 months that ended in January 2024. Profits zoomed higher by 146%, while revenue soared by 114%.
With this sort of rosy financial picture in view, Nvidia has hired workers at a brisk pace, according to regulatory documents on file with the Securities and Exchange Commission show.
In January, Nvidia employed 36,000 people in 38 countries. That was 21.6% more employees than in January 2024, when Nvidia employed 29,600 people in 36 countries, Nvidia SEC filings show.