Tech industry fledgling signs big South Bay office lease in expansion

SUNNYVALE A fledgling tech company that uses AI techniques to help major automakers produce self-driving vehicles has leased a big chunk of Sunnyvale office and research space in an expansion Applied Intuition has leased square feet at a tech park on West California Avenue in Sunnyvale according to business executives with knowledge of the transaction Applied Intuition logo is visible at Pioneer Way in Mountain as seen in Google Maps The rental deal is one of the largest office leases so far in in the South Bay The leasing transaction enables Applied Intuition to occupy multiple buildings in Sunnyvale Business Park according to the sources who urged not to be named because they were not authorized to discuss the rental agreement The Applied Intuition lease offers fresh evidence that the South Bay office sector is in the early stages of a turnaround in rental activity on the heels of a downturn that began at the start of Sunnyvale Business Park is an office and research tech campus near the corner of West California Avenue and North Mathilda Boulevard according to a brochure circulated by Colliers a commercial real estate firm that is marketing the property The current Applied Intuition headquarters at Pioneer Way in Mountain View total about square feet according to a post on the LoopNet commercial property database Applied Intuition is slated to exit the Mountain View office space by the end of July according to the LoopNet listing The rental deal is poised to help Applied Intuition greatly expand its South Bay operations since the space the company leased is more than twice as large as the site the company will exit this summer Founded in Applied Intuition produces platform used by of the largest automakers worldwide according to the tech firm s website The tech company uses artificial intelligence technologies to help automakers develop self-driving vehicles and automated robots used in factories Applied Intuition s cutting-edge autonomy AI stack works with proven simulation validation and content tools to transform vehicles into autonomous machines the company states on its website In the company completed a funding round of million and a second round of million The two rounds of financing left Applied Intuition with a valuation of billion Applied Intuition is convinced that its cutting-edge AI system systems are the wave of the future for truck improvement System is transforming the modern conveyance experience Applied Intuition states on its website