To be sure, Silicon Valley is still home to many of the biggest names in tech. Oracle, Hewlett-Packard, Intel and Google still have their headquarters there. Apple and Facebook are pursuing expansion plans for their Silicon Valley offices.
But with even some established companies, including Cisco Systems and eBay, establishing beachheads in San Francisco, the city's role as a tech heavyweight seems poised to continue. Tech companies want to be where the action is, and, for now, it's in San Francisco.
Cameron Scott covers search, web services and privacy for The IDG News Service. Follow Cameron on Twitter at CScott_IDG.