Movement Alert｜Rackspace Technology Rises 11.4% in Pre-Market Trading, Continued Rebound After AMD 30MW Compute Deployment Agreement

Market Focus07-09 19:31

On July 9, Rackspace Technology rose 11.4% in pre-market trading, trading at approximately $7.05/share, with turnover of $664,100. The stock continues its technical rebound following an oversold correction from the AMD partnership announcement.

On the news front, the company previously signed a definitive agreement with AMD to deploy an initial 30-megawatt footprint of AMD-based AI compute infrastructure in phases from late this year through 2028, targeting regulated enterprise workloads including healthcare providers. Following the agreement announcement, shares surged over 30%, but subsequently experienced consecutive pullbacks, with a single-day decline of 11.86% to $5.72 on July 2. Since July 6, the stock has entered a sustained rebound phase with significant volume expansion. Additionally, the company announced a $14 million to $19 million restructuring charge plan to optimize operational efficiency and reallocate resources toward its AI business transformation.

Within the Internet Services and Infrastructure sector, CoreWeave rose 1.44%, reflecting a broadly positive tone across AI infrastructure names.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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