Rackspace Shares Jump 30% After Securing AMD-Powered AI Infrastructure Agreement (RXT)

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1. 6d ago

   Rackspace Shares Jump 30% After AMD AI Infrastructure Deal

   Rackspace Technology shares surged 30% following a definitive agreement with AMD to deploy 30 MW of AI compute infrastructure. The deal solidifies AMD as a key technology partner in Rackspace’s AI platform, driving investor optimism despite recent layoffs. Stock rallied to its highest level since May 15, 2026, amid strong AI infrastructure demand. The partnership formalizes a May 2026 memorandum and targets regulated enterprise workloads.

   What's confirmed:

   • Rackspace Technology shares surged 30% after announcing a definitive agreement with AMD to deploy 30 MW of AI compute infrastructure.
   • The deal establishes AMD as a strategic technology partner within Rackspace’s managed AI platform, formalizing a May 7, 2026, memorandum.
   • Rackspace’s stock reached its highest level since May 15, 2026, driven by the AI infrastructure demand and the AMD partnership.
   • The agreement targets regulated enterprise workloads and is part of a phased deployment plan.
   • Rackspace announced a 15% workforce reduction alongside the AI infrastructure deal.

   Still unconfirmed:

   • Rackspace faces financing hurdles despite the AI deal, though no details on specific challenges have been confirmed.
   • The stock’s 30% surge was preceded by a 21% rally on June 16, 2026, though the exact cause of the earlier jump is unclear.
   confidence 95%