On June 16, Rackspace Technology rose 11.24% in regular trading, trading at $6.67/share, with turnover of $181 million. The surge was driven by the announcement that AMD and Rackspace Technology have signed a definitive agreement for the phased deployment of an initial 30-megawatt footprint of AMD-based AI compute infrastructure at Rackspace data centers.

According to the agreement, deployment will begin in late this year and continue through 2028. The infrastructure is specifically designed to serve regulated enterprise workloads, including those of healthcare providers that have expressed interest. Financial terms were not disclosed. Separately, the company disclosed it expects to incur $14 million to $19 million in one-time restructuring charges aimed at optimizing operational efficiency.

Within the Internet Services and Infrastructure sector, peers showed broad strength. CoreWeave rose 7.77%, Applied Digital rose 3.59%, Shopify gained 0.48%, while Snowflake declined 0.93%.

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