Rackspace Technology, publicly owned and headquartered in Windcrest, Texas, United States, was founded in 1998. The company employs approximately 7,880 individuals and reported $2.7 billion in revenue as of 2025. Functioning as an American cloud computing company, it specializes in IT services and IT consulting.
On September 18, 2026, Bleichmar Fonti & Auld LLP (BFA Law) reminded investors of the September 28 deadline to contact the firm regarding a securities fraud class action against Rackspace Technology Inc. (NASDAQ:RXT) and its senior executives. The lawsuit alleges Rackspace misled investors about its AI efforts and their impact on financial performance, which preceded a 33.6% stock drop on July 9, 2026. BFA Law had previously announced the filing of this class action. On September 17, Schall Brown & Schwartz LLP (SBS) also reminded investors of a class action lawsuit against Rackspace for alleged violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. Pomerantz LLP additionally announced a class action lawsuit against the company on the same day, advising investors of upcoming deadlines. Earlier on September 17, Rosen Law Firm encouraged investors who purchased Rackspace securities between May 7, 2026, and July 8, 2026, to secure counsel before the September 28 lead plaintiff deadline in a securities class action.
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Rackspace Technology offers 5 products in the enterprise tech and telecoms tech industries. Rackspace Technology's product portfolio comprises of enterprise security, data centre infrastructure and generative AI.
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Rackspace Technology's revenues were $2.7B in 2025. Caretta Research has split Rackspace Technology's revenue into 4 different product categories.
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Rackspace Technology's customers primarily consist of hospitals and Health Care and financial Services companies. Examples of Rackspace Technology's customers include CNWL NHS Foundation Trust and Moody's Analytics. Rackspace Technology has partners like Amazon Web Services (AWS).
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