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.
Rackspace Technology, Inc. (NASDAQ: RXT) is a Software – Infrastructure company that describes itself as an end-to-end hybrid cloud, multicloud, and AI solutions provider. The RXT news feed on Stock Titan aggregates company announcements, press releases, and third-party coverage that explain how Rackspace designs, builds, and operates cloud environments across major technology platforms.
News about Rackspace Technology often highlights developments in hybrid and multicloud services, AI-focused offerings, and partnerships with major cloud providers. Recent announcements have covered topics such as the launch of Rackspace AI launchpad, a managed service to help organizations evaluate, pilot, and deploy AI workloads, and the use of Rackspace AI Anywhere as a private cloud foundation for secure AI and machine learning capabilities. Other stories describe customer projects involving rapid migration of business-critical workloads to public cloud platforms and multicloud strategies that span providers like Microsoft Azure and Google Cloud.
Investors and technology professionals can also follow updates on certifications, awards, and industry recognitions. Rackspace Technology has reported achievements including VMware Sovereign Cloud certification for its UK Sovereign Services, an AWS Collaboration Partner of the Year award, and the AWS Automotive Competency, as well as leadership positions in the ISG Provider Lens™ Multi Public Cloud Services Report. Leadership changes, board updates, and financial results are typically announced through press releases and related SEC filings.
By monitoring this RXT news page, readers can review how Rackspace Technology communicates its progress in hybrid cloud, AI, data, and security services, along with examples of customer engagements in sectors such as automotive, retail, healthcare, financial services, and the public sector.
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Rackspace Technology (NASDAQ: RXT) has announced an expansion of its strategic partnership with Google Cloud aimed at accelerating digital transformation for customers. The relationship will enhance service capacity and includes the establishment of a dedicated Google Cloud Business Unit, focused on innovative solutions in data, AI, and application modernization. This partnership aims to develop a Rackspace Google Cloud Center of Excellence for training professionals and enhancing cloud capabilities. With public cloud spending projected to reach $591.8 billion in 2023, this collaboration positions Rackspace to capture significant market opportunities.
Rackspace Technology (NASDAQ: RXT) has announced the appointment of Brian Lillie as President of its Private Cloud business unit, effective January 23, 2023. This strategic move is part of Rackspace's new two-business unit operating model aimed at driving transformation and growth. CEO Amar Maletira expressed confidence in Lillie's extensive technology experience, highlighting the company's strong position in the private cloud market. Rackspace plans to accelerate growth in both its private and public cloud segments, leveraging its established brand and innovative technology solutions.
Rackspace Technology (NASDAQ: RXT) launched a new managed service, Modern Operations, on January 16, 2023. This offering provides a 24x7 unified support model for customers using AWS, Azure, and GCP, enabling them to streamline their cloud operations. The service aims to help businesses focus on core activities while managing the complexities of cloud environments. Benefits include continuous managed support, access to cloud expertise, enhanced cloud resiliency, and innovative cloud services. This initiative is part of Rackspace's commitment to supporting customers in their cloud journey.
Rackspace Technology (NASDAQ: RXT) has confirmed that a recent ransomware incident was swiftly contained and limited to its Hosted Exchange email business, which constitutes about 1% of its total annual revenue. The company engaged CrowdStrike for investigation and remediation, ensuring no other services were affected. Rackspace is transitioning impacted customers to Microsoft Office 365, with many already migrated. The firm maintains cybersecurity insurance and is confident in managing any financial implications.
Rackspace Technology (NASDAQ: RXT) reported a ransomware incident impacting its Hosted Exchange services, leading to disruptions for affected customers. The company has engaged a cyber defense firm to investigate, and immediate steps were taken to contain the issue. Rackspace believes the incident is isolated to its Hosted Exchange business, which generates approximately $30 million annually. While other services remain operational, the incident may result in revenue losses and additional costs as Rackspace works to migrate customers and enhance security measures.
Rackspace Technology (NASDAQ: RXT) announced that its cloud services division, Onica, has achieved the AWS Glue Service Delivery designation. This recognition validates Onica's ability to assist customers with data integration, utilizing AWS Glue for analytics and application development. The AWS Glue service enables customers to discover, prepare, and analyze data effectively. Onica's proprietary DataOps framework enhances data processing and accessibility for businesses, further cementing its position in the cloud technology landscape.
Rackspace Technology (NASDAQ: RXT) is showcasing its interactive AI demonstration, “Knights of AI”, at booth 244 during AWS re:Invent in Las Vegas from November 29 to December 1, 2022. This hands-on demonstration highlights the integration of serverless and AI/ML technologies. Celebrating 11 years as an AWS Premier Consulting Partner, Rackspace also has planned activities like GameDay and breakout sessions. Attendees can follow updates via LinkedIn and view the demonstration video online.
Rackspace Technology (NASDAQ: RXT) announced it will host an AWS re:Invent breakout session titled "Ready, Set, Innovate: Building for the Future", on December 1, 2022. The event will feature industry leaders from Innovyze, who will discuss the transformation of its desktop product into the SaaS platform Info360. This platform aids in managing water systems and ensuring clean drinking water. Rackspace is celebrating 11 years as an AWS Premier Consulting Partner and will have several activities at the expo in Las Vegas.
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