The Texans cut Gipson on Wednesday after just one season with the team. Gipson, 29, had signed a three-year, $22.5 million contract with the Texans in the 2019 offseason.
Gipson started 14 games for the Texans, had three interceptions and was tied for fifth on the team in combined tackles.
A wrist injury plagued Gipson earlier in the season, while a back injury landed him on the injured reserve late in the season.
He was unavailable for the Texans' playoff run, which included a tough loss to the Chiefs in the AFC Divisional Round.
Gipson has 450 tackles, 23 interceptions and 47 pass breakups in his eight seasons. He spent his first four seasons with the Cleveland Browns, and three seasons with the Jacksonville Jaguars before arriving to Houston last year.
Gipson's departure creates an immediate need at safety for the Texans, who signed Eric Murray and Jaylen Watkins this offseason, but neither has ever been a full-time starter.