Rackspace Technology announced that Dharmendra Kumar Sinha will depart as President of Public Cloud effective September 14, 2026. The departure is voluntary and not due to disagreements regarding operations or policies. A separation agreement with customary terms is being negotiated. Rackspace Technology provides managed cloud computing services.

Rackspace Technology, Inc. reported financial results for the fiscal quarter ended June 30, 2026. Revenue was $670 million, an increase of 0.6% year-over-year, driven by a 5.5% rise in Private Cloud revenue to $263 million, partially offset by a 2.3% decline in Public Cloud revenue to $407 million. The company reported a net loss of $68 million, or $(0.27) per diluted share, compared to a net loss of $55 million in the prior year period. Non-GAAP Operating Profit remained flat at $27 million. Rackspace provided full-year 2026 guidance projecting total revenue between $2,450 million and $2,550 million and Non-GAAP Operating Profit between $125 million and $135 million. The company operates in the cloud computing and IT infrastructure services industry.

Rackspace Technology, Inc. entered into an Equity Distribution Agreement with Goldman Sachs & Co. LLC for an at-the-market offering of up to $250,000,000 in common stock. The company also amended its accounts receivable securitization facility to extend the termination date to July 2, 2029, and increase the facility limit to $350 million. Additionally, the company announced preliminary second quarter 2026 financial results with expected revenue between $641 million and $649 million. Rackspace Technology, Inc. is a cloud technology company providing multi-cloud management and services.

On June 16, 2026, Rackspace Technology announced a definitive GPU-as-a-Service (GPUaaS) Agreement with Advanced Micro Devices, Inc. (AMD) to deploy AMD AI compute products, including Instinct GPUs and EPYC CPUs, across its global data centers. Rackspace committed to providing an initial launch footprint of 30 MW of capacity exclusively for AMD Products, with deployment starting in late 2026 and continuing in phases through 2028. The agreement includes a right of first refusal for AMD to consume capacity before sales to third parties below certain price thresholds, and AMD will purchase residual unsold capacity subject to specific caps and requirements. Implementation is contingent upon Rackspace securing additional financing and the availability of hardware from third-party OEMs. Rackspace is a cloud computing company providing multicloud services and managed hosting.

Rackspace Technology, Inc. approved a workforce realignment plan on June 10, 2026, which is expected to result in the termination of approximately 15% of its global workforce. The company expects to incur one-time expenses of $14 million to $19 million in 2026, with anticipated annualized run-rate savings of $75 million to $85 million. Rackspace Technology, Inc. is a provider of multi-cloud and multi-model AI solutions for regulated enterprises.