Technology giant Oracle is moving its global headquarters from Austin to Nashville, just three years after relocating to Texas.
Oracle Executive Chairman Larry Ellison said Tuesday at the Oracle Health Summit that the company is moving to Nashville, Tennessee, to be closer to a major healthcare epicenter.
Oracle moved its headquarters to Austin from Redwood City in California’s Silicon Valet in 2021, but announced the same year it would invest $1 billion to build a new campus in Nashville.
“It’s the center of the industry we’re most concerned about, which is the health-care industry,” Ellison said.
Oracle is making a push into the health-care industry, having acquired electronic health records company Cerner in a $28 billion deal in 2022.
Some see the move as a loss for Texas, which is no longer in the top five states for business, according to CNBC’s 2023 America’s Top States for Business. The state is still the sixth-best state for business, but some Austin companies have had bad luck lately, most recently Tesla, which had to lay off more than 10% of its global workforce last month.
Nashville is home to more than 900 healthcare companies, including HCA Healthcare, one of the nation’s first for-profit hospital companies and the largest healthcare system in the country.
Oracle is the third largest software company in the world by revenue, and Ellison is the fifth richest person in the world, according to Forbes.
