Rackspace Shares Rebound After Steep Drop as AI Partnerships Recast Outlook
Rackspace Technology's stock climbed roughly 18.9% in mid-day trading after tumbling more than 20% the prior session when the company trimmed fiscal 2026 revenue guidance and announced a dilutive mixed shelf equity offering. Market attention has shifted to two strategic agreements with AMD and Palantir that position Rackspace to expand AI infrastru…