Rackspace Technology, a publicly owned company headquartered in the US, was founded in 1998 and employs approximately 7,880 individuals. The company specializes in IT Services and IT Consulting, functioning as an American cloud computing company.
Rackspace Technology is increasing its focus on enterprise AI, with RBC Capital Markets projecting that a new AMD-backed GPU buildout, funded by recent financing, could generate significant revenue by 2028. This follows news on July 10 that Palantir Technologies secured its first publicly disclosed commercial customer in Latin America, a multi-year multimillion-dollar expansion with GNP Seguros Mexico, with Rackspace also involved. Earlier on July 10, RBC Capital analyst David Paige maintained a Hold rating on Rackspace Technology and set a $4.00 price target, after the company's shares closed at $4.37. Also on July 10, Rackspace Technology and Palantir Technologies announced an operating model framework designed to help regulated and sovereign enterprises implement and manage AI in production. These developments come after a securities investigation began on July 9, examining whether Rackspace Technology misled investors regarding its full-year 2026 outlook. On July 9, Rackspace Technology shares fell over 25% intraday after the company cut its 2026 revenue guidance by $150 million and adjusted EBITDA guidance by $20 million.
Similar Companies
Subscribe for full access to Rackspace Technology's profile
Rackspace Technology offers 4 products in the enterprise tech and telecoms tech industries. Rackspace Technology's product portfolio comprises of generative AI and enterprise security.
Subscribe for full access to Rackspace Technology's products in full detail
Subscribe for full access to Rackspace Technology's revenue in full detail
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).
Example Customers
Subscribe for full access to Rackspace Technology's profile
Example Partners
Subscribe for full access to Rackspace Technology's profile
Subscribe for full access to Rackspace Technology's products in full detail 
