Oracle is moving its headquarters from Silicon Valley to Austin, Texas

 Oracle is the latest tech company to move its headquarters out of California. The company said on Friday it’s moving its headquarters from the Silicon Valley to Austin, Texas.

Oracle is one of Silicon Valley’s older success stories, founded in Santa Clara in 1977. It moved into its current headquarters in 1989. Several of the buildings on its campus there are constructed in the shape of a squat cylinder, which is the classic symbol in computer systems design for a database, the product on which Oracle built its empire.

The coronavirus pandemic has given a number of tech companies and prominent Silicon Valley figures an excuse to exit California. Hewlett Packard Enterprise announced earlier this month that it will relocate its headquarters from San Jose, California, to Houston, Texas. Data analytics software company Palantir Technologies also moved its headquarters to Denver, Colorado from Palo Alto, California, earlier this year.

Tesla and SpaceX chief Elon Musk also confirmed this week that he moved to Texas, though his companies still maintain their major operations in California. Larry Ellison, Oracle’s co-founder and chairman, serves on Tesla’s board. Ellison has a longstanding friendship with Michael Dell, whose computer company was founded and remains headquartered in the Austin area.