Rackspace Technology, Inc. Stock Price, News & Analysis

Rackspace Technology has released a report revealing that while AI/ML adoption is a high priority for 62% of organizations, challenges remain in demonstrating its business value. The survey of 1,870 IT leaders showed that while 70% experienced positive impacts on brand awareness and revenue generation, 36% found it challenging to measure these benefits. Additionally, 72% incorporate AI/ML in their business strategies, with budgets increasing from 1%-10% to 6%-10%. Despite progress, 33% cite misalignment with business strategies as an obstacle, reflecting a growing need for stakeholder buy-in and quality data.

Rackspace Technology (RXT) announced the launch of a new OpenStack private cloud for Pipedrive in the UK, enhancing service for European customers. This initiative aims to reduce response times while meeting security and compliance requirements. The UK facility becomes Pipedrive's fourth cloud region, providing redundancy and minimizing the risk associated with data center issues. Pipedrive, which has nearly 100,000 users worldwide, is also expanding its AWS environment to support further growth.

Rackspace Technology (NASDAQ: RXT) announced its plans to release Q4 2022 financial results on February 22, 2022, after market close. CEO Kevin Jones and CFO Amar Maletira will host a conference call at 5 PM ET to discuss the results. Interested parties can join via Zoom or listen by telephone. The webcast will be available on Rackspace's investor relations website. The company is a leading multicloud technology services provider, assisting customers in modernizing applications and adopting new technologies.

Rackspace Technology (NASDAQ: RXT) has partnered with BT to enhance cloud services for multinational customers. This collaboration will utilize Rackspace's advanced hybrid cloud solutions deployed in BT data centers, integrating automation, AI, and analytics with BT's robust network capabilities. This partnership aims to improve customer experiences and evolve BT's managed cloud offerings. Both companies plan to develop new joint cloud solutions in the future to strengthen their market position.

Rackspace Technology (NASDAQ: RXT) has announced its acquisition of Just Analytics, a leading provider of cloud-based data and AI services in the Asia Pacific and Japan region. This deal is aimed at enhancing Rackspace's capabilities within the Microsoft Azure ecosystem, as Just Analytics has earned multiple regional Microsoft partner awards. Founded in 2011 and based in Singapore, Just Analytics specializes in creating scalable data pipelines and will continue to operate under its brand. The acquisition is expected to strengthen Rackspace's professional services and regional ties.

Rackspace Technology (NASDAQ: RXT) has announced a partnership with Digivante to deliver AI-powered application testing for EMEA customers. This collaboration aims to enhance digital performance through automation, addressing long development times and improving testing efficiency. Using AI and Machine Learning, customers can expect faster software delivery, reduced test cycle times, and minimized manual testing errors. According to IDC, enterprise downtime can cost between $500K to $1M per hour, highlighting the importance of efficient application testing.

Rackspace Technology (NASDAQ: RXT) announced a successful collaboration with Auronix that achieved a 300% return on investment since implementation of Amazon Web Services (AWS). The partnership focused on optimizing infrastructure and enhancing security while moving products to the cloud. This collaboration not only doubled migration speed but also allowed Auronix to allocate more resources to application development. Rackspace now manages infrastructure monitoring and risk mitigation for Auronix, facilitating their digital transformation.

Rackspace Technology (NASDAQ: RXT) announced a partnership with AWS for its new Emissions Monitoring and Surveillance (EMS) solution. This initiative allows facility teams to monitor methane emissions effectively, enabling quicker responses to reduce carbon intensity and environmental impacts. The EMS integrates multiple data sources, streamlines emissions analysis, and accelerates leak detection and repairs. According to Mike Melanson, VP of Strategic Alliance Partnerships, this solution addresses climate change and enhances the company's industry expertise.

Great Hill Partners has appointed Suaad Sait as a Growth Partner, enhancing its investment team with his extensive experience in software and cloud technology. Mr. Sait has a history of driving significant growth, having generated over $15 billion in value in his career. Notably, he previously served at SolarWinds (NYSE: SWI) and Rackspace (NASDAQ: RXT), where he played pivotal roles in revenue growth. Great Hill Partners continues to focus on disruptive companies, aiming to provide strategic resources to enhance portfolio growth.