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) announced its partnership with Grupo Milenio to migrate to a more reliable AWS Cloud architecture. This digital transformation aims to enhance the delivery of breaking news across Mexico during high-traffic periods.
The upgrade has reportedly increased uptime, allowing for dependable content delivery. Grupo Milenio, comprising various media platforms, sought this migration for improved performance without raising operational costs.
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Rackspace Technology (NASDAQ: RXT) announced a strategic partnership with VMware to deploy its Secure Access Service Edge (SASE) platform in 20 global markets. The deployment will utilize Rackspace's Data Center in a Box solution, starting with 15 data centers and expanding to five additional sites across North America, South America, Europe, Asia Pacific, the Middle East, and Africa. This collaboration aims to enhance cloud security and streamline services for businesses.
Rackspace Technology (NASDAQ: RXT) announced a successful migration of Rancho Valencia's email server to Microsoft 365, enhancing customer service and optimizing infrastructure. The upgrade improved performance by 30%, leading to a faster, more secure email experience. Rancho Valencia, a Forbes Travel Guide Five-Star resort, boosts its guest engagement and revenue potential through technology application at customer touchpoints. The collaboration with Rackspace not only saved costs but also increased stability and compliance in its operations.
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Rackspace Technology (NASDAQ: RXT) announced enhancements to the QX Partner Portal, designed to help game developers and publishers manage rewards for gamers. This strategic collaboration with Onica includes building a streaming data processing system and a robust CI/CD pipeline. The QX platform tracks digital asset rewards that gamers can redeem for cash, increasing revenue for publishers while improving gameplay experiences. This initiative is a significant step for QX as it aims to raise additional funding and launch its product effectively.
Rackspace Technology (NASDAQ: RXT) announced the launch of Rackspace Elastic Engineering for Government aimed at enhancing cloud capabilities for government entities. The service aligns with the National Institute of Standards and Technology's essential cloud characteristics, providing access to specialized teams and rapid resource scalability. This offering allows government organizations to quickly address their cloud needs without extensive planning. With over 20 years of experience in government compliance, Rackspace aims to support entities at various levels including federal, state, and educational sectors.
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Rackspace Technology (Nasdaq: RXT) reported a 7% increase in revenue, totaling $776 million for Q1 2022, driven by new customer acquisitions. Core revenue rose by 9% to $735 million. Despite these gains, the company incurred a net loss of $(39) million, an improvement from $(64) million in Q1 2021. Non-GAAP operating profit decreased by 6% to $112 million. Facing potential strategic shifts after a recent review, Rackspace is optimistic about its growth trajectory amid the expanding cloud market.
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