Rackspace Technology Rebounds After Guidance Cut
Shares of Rackspace Technology (NASDAQ:RXT) surged over 22% on Friday following a sharp decline the previous day after management cut FY2026 revenue guidance by $150 million. The company announced new AI partnerships with AMD and Palantir, aiming for up to $600M in annual Enterprise AI revenue by 2028.
Topics: AI pivot strategy AMD collaboration Palantir partnership Rackspace Technology revenue guidance cut