Why This AI Data Center Stock Is Surging 21% on an AMD Partnership -- Barrons.com

Dow Jones06-16

By Mackenzie Tatananni

Shares of Rackspace Technology spiked Tuesday after the cloud computing company finalized a deal to use chips from Advanced Micro Devices in its data centers.

The agreement locks in a memorandum of understanding from May, establishing AMD as the main hardware provider for Rackspace's AI cloud. The companies will begin rolling out 30 megawatts of computing capacity later this year, with full deployment expected by 2028.

Rackspace shares rose 21% to $7.15 in Tuesday's premarket session. AMD was up 0.9%, outpacing tech-heavy Nasdaq futures, which rose 0.3%.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 16, 2026 07:32 ET (11:32 GMT)

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