◆ NeutralRXTAMD
Why Rackspace Rallied Today
The Motley Fool·
Rackspace stock surged up to 21% after announcing a partnership expansion with AMD to deploy 30 MW of compute capacity for enterprise customers in regulated industries through 2028. The company also announced a 15% workforce reduction to save $75-85 million annually and refocus on AI opportunities. Despite the rally, Rackspace remains well below its $21 IPO price from 2020.
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