On June 23, Rackspace Technology rose 8.64% in regular trading, trading at 7.15 USD/share, with turnover of approximately $69.98 million. The stock staged a sharp intraday reversal after falling as much as 8.85% in pre-market trading, resulting in dramatic intraday volatility.

On the news front, the rebound comes as the market continues to digest the companys definitive agreement with AMD to deploy 30 megawatts of AI compute infrastructure across Rackspace global data centers from late this year through 2028. The deployment targets regulated enterprise workloads, including healthcare providers expressing early interest in clinical AI and large-scale inference. Upon full deployment, the infrastructure will support a complete technology stack encompassing enterprise AI cloud, enterprise inference engines, inference-as-a-service, and bare-metal AMD Instinct solutions. The stock had previously surged over 30% following the agreement announcement before pulling back sharply over consecutive sessions. Separately, RBC raised its price target to $4 from $2.50 while maintaining a Sector Perform rating, notably below current trading levels. The company is also undertaking a restructuring involving approximately 15% workforce reduction and $14-19 million in one-time charges to optimize operations and focus on AI transformation.

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