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From what I understand, and I am not speaking officially, Ampex did consider moving the sign but Hayward wouldn't allow it. Too tall or something. FYI, Ampex Data Systems was bought from Ampex Corporation by Delta Information (https://www.delta-info.com/).

On Thursday, April 8, 1999 at 12:00:00 AM UTC-7, Kahuna wrote:
The big AMPEX sign visible off highway 101 in Redwood City south of
San Francisco is still standing. Its been there at least the 24 years
I've lived in the Bay Area and is still up despite the demise of the
company and the replacement of the campus with new office buildings.
It's even lit up at night. I guess the city of Redwood City has
declared it some kind of historic landmark. Am I right that AMPEX
is out of business or is there still some remnant division left?

Pardon the "regional" post.

Kahuna