Rackspace Announces AMD Partnership Expansion and Workforce Reduction

Shares of Rackspace (NASDAQ: RXT) surged on Tuesday following the announcement of an expanded partnership with Advanced Micro Devices (AMD), which includes deploying 30 MW of compute capacity for enterprise clients in highly regulated industries. The company also announced a 15% workforce reduction to save $75 million to $85 million annually.

By Billy Duberstein, The Motley Fool Tue, June 16, 2026 at 11:34 PM GMT+3 3 min read · Yahoo Finance · June 16, 2026, 20:34 UTC

Tickers: $AMD

Topics: AI computing AMD cloud services Rackspace workforce reduction

Read the full article at Yahoo Finance

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