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Rackspace Technology, Inc. - $RXT STOCK NEWS

Welcome to our dedicated page for Rackspace Technology news (Ticker: $RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Rackspace Technology's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Rackspace Technology's position in the market.

Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) collaborates with Young Hollywood to revolutionize its video content management using Google Cloud solutions. This partnership has significantly enhanced video processing speed, data accessibility, and monetization opportunities. By implementing the Google Cloud Video Intelligence API, Young Hollywood can now process videos ten times faster and access rich metadata for improved searchability and analysis. The migration included over 5,000 video files and optimized the infrastructure for better AI utilization. The collaboration aims to explore further enhancements in search functionalities and monetization strategies.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.07%
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Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) has been named Dell Technologies Global Alliances Service Provider of the Year, Americas. This recognition highlights Rackspace's leadership in end-to-end, hybrid multicloud, and AI solutions. The award celebrates the successful collaboration between Rackspace and Dell, offering integrated solutions that address business and IT challenges, driving digital transformation, and providing value to customers. Adrianna Bustamante, VP of Private Cloud Partnerships, emphasized that this accolade underscores their efforts in hybrid multicloud, healthcare, and AI, enabling cost reductions, data control improvements, and new AI use cases while ensuring compliance and security.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.55%
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Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) announced that Seattle Children's has successfully implemented its Epic Electronic Health Records (EHR) system using Rackspace’s Healthcare Cloud solution.

This decision followed a thorough evaluation of cloud service providers, leading to Rackspace's selection for managing migrations and providing fully managed private cloud infrastructure services for Epic.

The collaboration involves SLA-backed managed services, a predictable cost model, and expandability for growth, enabling improved patient care and optimized business operations.

Rackspace's role includes seamless migration and support for Epic infrastructure, facilitating better patient care coordination and data management.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.46%
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none
Rhea-AI Summary

Rackspace Technology reported first quarter 2024 results with revenue of $691 million, down 9% year-over-year. Private Cloud revenue was $268 million, down 15% year-over-year, while Public Cloud revenue was $422 million, down 5% year-over-year. The company achieved results above the high-end of guidance for revenue, operating profit, and EPS. However, there was a loss from operations of $(653) million, with non-GAAP Operating Profit decreasing by 68% to $16 million. The company aims to position itself for consistent revenue and profit growth in 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.51%
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Rhea-AI Summary
Rackspace Technology, a leading hybrid multicloud and AI solutions company, will announce its first quarter 2024 financial results on May 9, 2024. The CEO and CFO will host a conference call to discuss the results. Interested parties can access the webcast or dial-in for the call through the provided links.
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Rhea-AI Sentiment
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3.07%
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Rhea-AI Summary
Rackspace Technology partners with OhioX to accelerate responsible AI adoption in Ohio. FAIR collaborates with OhioX to promote ethical AI practices, foster innovation, and drive economic growth in the state. The partnership includes exclusive events and discussions to advance AI adoption in Ohio.
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Rhea-AI Sentiment
End-of-Day
1.82%
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partnership AI
Rhea-AI Summary
Rackspace Technology announces the final results of the exchange offer for its 3.50% First-Priority Senior Secured Notes due 2028. The offer involved exchanging Existing Secured Notes for new Exchange Notes and canceling certain notes for cash. The New Issuer received $138,427,000 in aggregate principal amount of Existing Secured Notes, representing 75.9% of the total outstanding notes.
Rhea-AI Impact
Rhea-AI Sentiment
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-4.19%
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Rhea-AI Summary
Rackspace Technology collaborates with GLP and Microsoft to integrate Generative AI chatbot with Enterprise Data Lake for actionable business insights. GLP leverages FAIR™ and Azure OpenAI Service to enhance data-driven asset management strategies, streamlining workflows and improving customized analysis. The partnership accelerates secure adoption of Generative AI solutions, enabling GLP to engage better with data for fund management, ESG metrics, and more.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.92%
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AI
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Rhea-AI Summary
Rackspace Technology (RXT) to showcase cutting-edge Generative AI Services and Solutions on Rackspace FAIR Practice at Google Cloud Next event. The event aims to bring together developers, IT professionals, and CXOs for immersive learning and networking opportunities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.49%
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partnership
Rhea-AI Summary
Rackspace Technology announces amendments to its offer of new senior secured first lien first out term loans and exchange of existing secured notes, with updated terms and conditions and increased late exchange consideration, aiming at eligible holders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.53%
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Rackspace Technology, Inc.

Nasdaq:RXT

RXT Rankings

RXT Stock Data

423.08M
64.74M
4%
90.53%
2.96%
Software - Infrastructure
Technology
Link
United States of America
SAN ANTONIO

About RXT

rackspace, the #1 managed cloud company, helps businesses tap the power of cloud computing without the challenge and expense of managing complex it infrastructure and application platforms on their own. rackspace engineers deliver specialized expertise on top of leading technologies developed by openstack, microsoft, vmware and others, through a results-obsessed service known as fanatical support®. we have more than 300,000 customers worldwide, including two-thirds of the fortune 100. rackspace was named a leader in the 2015 gartner magic quadrant for cloud-enabled managed hosting, and has been honored as one of fortune’s best companies to work for in six of the past eight years. learn more at www.rackspace.com.