RXT - Rackspace Technology, Inc.
The broader market remains intensely fixated on public hyperscalers hoarding silicon to build massive, general-purpose artificial intelligence models. Look one layer deeper into the physical economy, and a distinct structural shift is unfolding.
The broader market remains intensely fixated on public hyperscalers hoarding silicon to build massive, general-purpose artificial intelligence models. Look one layer deeper into the physical economy, and a distinct structural shift is unfolding.
At $7.53, Rackspace Technology (NASDAQ:RXT) is a Hold, with an aggressive Buy trigger if a macro panic drags shares back to $5.00.
Rackspace Technology Inc. (NASDAQ:RXT) is getting back into the good graces of investors.
Rackspace announced a deployment of AMD AI chips up to 30 MW through 2028. The company also announced a 15% workforce reduction.
Rackspace Technology, Inc. (RXT) Discusses Phased Deployment Agreement for AMD AI Compute and GPU-as-a-Service Collaboration Transcript
Shares of a little-known cloud-computing company that has been striking big deals with tech giants have been on a tear this year. And a new deal with Advanced Micro Devices is furthering that notable rally.
Shares of Rackspace Technology RXT climbed about 16% in trading on Tuesday after the cloud services provider announced a major infrastructure agreement with Advanced Micro Devices and announced a 15% cut in its global workforce. The company said it has signed a definitive agreement with AMD for the phased deployment of up to 30 megawatts of dedicated compute capacity across Rackspace's global data-center footprint.
Rackspace Technology strikes a deal with Advanced Micro Devices to use AMD chips in its AI data centers.
SANTA CLARA, Calif. and SAN ANTONIO, June 16, 2026 (GLOBE NEWSWIRE) -- AMD (NASDAQ: AMD) and Rackspace Technology® (NASDAQ: RXT), a global enterprise AI infrastructure and solutions provider, today announced the signing of a definitive agreement for the phased deployment of an initial 30 MW footprint dedicated to AMD-based compute deployments across Rackspace's global data centers beginning in late 2026 through 2028.
Chief Human Resources Officer Kellie Teal-Guess sold 33,966 shares for a total transaction value of ~$189,000 at a weighted average price around $5.56 per share on June 4, 2026. The transaction reduced Teal-Guess's direct holdings by 2.51%, leaving her with 1,318,734 shares post-sale.
The most important chart on Wall Street right now isn't Nvidia Corp. (NASDAQ: NVDA) or Micron Technology Inc.
Rackspace is pivoting to high-margin, managed AI cloud services through partnerships with Palantir and AMD, targeting regulated industries. RXT's asset-light strategy avoids large capex, focusing on enterprise AI workloads and consulting revenues, supporting a path to GAAP profitability. Despite 2% YoY revenue growth and improved operating loss, RXT trades at a significant P/S discount vs. peers, suggesting rerating potential.
Rackspace Technology (NASDAQ:RXT) has established a regional headquarters in Riyadh as the cloud-services company moves to accelerate its cloud and artificial intelligence growth in the Middle East. The new regional headquarters in the Saudi capital is intended to support Rackspace's expansion in cloud and AI services, the company said.
RIYADH, Saudi Arabia, June 08, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a global enterprise AI infrastructure and solutions provider, today announced the establishment of its regional headquarters in Riyadh, Saudi Arabia, reinforcing the company's long-term commitment to the Kingdom of Saudi Arabia and the broader Middle East region. The new regional headquarters will serve as a strategic hub for Rackspace Technology's operations and customer engagement efforts, supporting organizations across enterprise, government, and regulated industries as they accelerate digital transformation initiatives aligned with Saudi Arabia's Vision 2030 agenda.
Investors searching for the biggest stock winners of 2026 may be surprised to learn they already own some of them through small-cap ETFs.
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Rackspace Technology NASDAQ: RXT reported first-quarter 2026 revenue growth and reaffirmed its full-year outlook, while management emphasized the company's shift toward managed, governed enterprise artificial intelligence infrastructure for regulated and sovereign environments.
Expand NASDAQ: RXT Rackspace Technology Today's Change (55.97%) $1.97 Current Price $5.49 Key Data Points Market Cap $869M Day's Range $3.75 - $6.00 52wk Range $0.39 - $6.00 Volume 152M Avg Vol 30M Gross Margin 12.59% Rackspace Technology (RXT +55.97%), a provider of end-to-end multi-cloud technology services, closed at $5.49, up 55.97%. Shares surged after the company announced an AI cloud infrastructure partnership with AMD focused on governed enterprise AI for regulated customers, and investors are watching how this collaboration could drive future demand.
Rackspace Technology, Inc. (RXT) Q1 2026 Earnings Call Transcript