Rackspace Technology Stock Jumps 12% On AMD AI Infrastructure Partnership

(RTTNews) - Rackspace Technology, Inc. (RXT) stock gained 12.43 percent, or $0.74, to $6.65 on Tuesday, after the company announced a definitive agreement with AMD for the phased deployment of an initial 30-megawatt footprint of AMD-based compute infrastructure across Rackspace's global data centers from late 2026 through 2028.

The stock is currently trading at $6.65, compared with its previous close of $5.91 on the Nasdaq. Shares opened at $6.75 and traded between $6.18 and $7.16 during the session. Trading volume reached 51.45 million shares, significantly above the average daily volume of 19.79 million shares.

The agreement formalizes the memorandum of understanding announced in May and establishes AMD as a strategic technology partner for Rackspace's enterprise AI cloud platform.

RXT shares have traded between $0.39 and $7.65 over the past 52 weeks.