Larry Page Plots Texas HQ for AI Startup

Billionaire Larry Page is doubling down on artificial intelligence in Silicon Valley — even as he tries to move one of his startups’ headquarters to Texas.

Dynatomics, a three-year-old AI venture backed by the Google co-founder, filed paperwork to shift the company’s headquarters — at least on paper — out of California. On Dec. 30, Page submitted documents to the California Secretary of State converting Dynatomics LLC to an address in Keller, Texas, a suburb of Dallas-Fort Worth, the San Francisco Business Times reported.

At the same time, Page leased 73,400 square feet at a newly redeveloped research and development project in Palo Alto, according to CBRE. The company focuses on AI-powered manufacturing and design tools for advanced aircraft. According to the outlet, Dynatomics is expected to occupy space at The Cannery, a conversion of a former Fry’s Electronics store at 340 Portage Avenue.

Whether that signals a meaningful operational move is unclear. The Palo Alto lease suggests Dynatomics’ core research and development work will remain planted in Silicon Valley. The new facility is expected to house engineers and technical staff, making a wholesale relocation from California unlikely.

The Texas filing instead fits a broader pattern for Page, whose recent maneuvers appear driven more by tax strategy. Ahead of a potential wealth tax headed for California’s ballot in November, Page shifted multiple limited liability companies to lower-tax states, including Florida, according to the New York Times, and also snapped up high-end residential property in Miami.

The proposed California Billionaire Tax Act would impose a one-time levy on billionaire wealth to fund health care, education and food assistance programs. Page, ranked No. 75 on Fortune’s list of the most powerful business figures, joins a growing list of tech elites quietly adjusting their corporate domiciles in response, according to the outlet.

The Dynatomics deal also lands as demand for research and development space on the San Francisco Peninsula shows early signs of recovery. With new construction largely stalled, more companies moved into research and development space than exited last year for the first time since 2021, CBRE said, though vacancy still hovers near 25 percent. The Cannery has been repositioned for engineering testing and prototype manufacturing and sits near an established EV and advanced manufacturing cluster anchored by Tesla and Rivian.

The split strategy mirrors broader AI real estate trends. Elsewhere in Texas, a data center startup co-founded by former Google CEO Eric Schmidt is betting on cheap power and wide- open land in the Permian Basin. Bolt Data & Energy raised $150 million and struck a partnership with Texas Pacific Land Corporation to develop large-scale AI infrastructure, Bloomberg reported.

— Eric Weilbacher