Why Is Rackspace Stock Surging Today?

Rackspace Technology (RXT) shares surged 11.41% after announcing a definitive agreement with AMD for phased deployment of 30 megawatts of AMD-based AI compute infrastructure. The partnership formalizes an earlier MOU and positions AMD as a core silicon partner in Rackspace's governed AI infrastructure stack, targeting regulated industries like healthcare. However, technical analysis shows fading momentum with MACD below its signal line, suggesting caution despite the stock's 334.93% gain over 12 months.