On July 9, Rackspace Technology rose 11.4% in pre-market trading, trading at approximately $7.05/share, with turnover of $664,100. The stock continues its technical rebound following an oversold correction from the AMD partnership announcement.

On the news front, the company previously signed a definitive agreement with AMD to deploy an initial 30-megawatt footprint of AMD-based AI compute infrastructure in phases from late this year through 2028, targeting regulated enterprise workloads including healthcare providers. Following the agreement announcement, shares surged over 30%, but subsequently experienced consecutive pullbacks, with a single-day decline of 11.86% to $5.72 on July 2. Since July 6, the stock has entered a sustained rebound phase with significant volume expansion. Additionally, the company announced a $14 million to $19 million restructuring charge plan to optimize operational efficiency and reallocate resources toward its AI business transformation.

Within the Internet Services and Infrastructure sector, CoreWeave rose 1.44%, reflecting a broadly positive tone across AI infrastructure names.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)