Software and tech company Oracle has announced that it is moving its headquarters from Silicon Valley to Texas.
Moving to Austin from Redwood City “means that many of our employees can choose their office location as well as continue to work from home part time or all of the time,” Oracle said Friday, according to Bloomberg.
Texas Governor Greg Abbott welcomed Oracle in a tweet. "Oracle just announced they have moved their Headquarters to Austin. Texas is truly the land of business, jobs, and opportunity. We will continue to attract the very best."
The Oracle move comes after Tesla CEO Elon Musk announced last week he was moving his residence to Texas. In an interview with the Wall Street Journal, Musk took aim at California for its strict regulatory policy and complacent attitude, suggesting that the influence of Silicon Valley was declining.
“You have a forest of redwoods and the little trees can’t grow,” he said. "California has been winning for a long time, and I think they’re taking it for granted."
"I think we'll see some reduction in the influence of Silicon Valley.”
Earlier this month, HP, one of Silicon Valley's founding companies, announced they too were moving their headquarters to Texas.