Rackspace Technology, Inc. - RXT STOCK NEWS

Rackspace Technology (NASDAQ: RXT) has signed a Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to deliver comprehensive cloud and AI services globally. The partnership includes significant investment in Rackspace's Migration and Modernization Center of Excellence and introduces the Rackspace Rapid Migration Offer (RRMO) for expedited data center migrations. The collaboration will leverage AWS's foundation models through Amazon Bedrock and Rackspace's FAIR™ platform for generative AI solutions. A notable success case is Convera, which automated its customer support operations using these technologies, reducing processing times from hours to minutes. Starting early 2025, Rackspace will launch AWS-validated generative AI industry accelerators in AWS Marketplace.

Rackspace Technology (NASDAQ: RXT) has achieved the AWS Small and Medium Business (SMB) Competency, demonstrating its expertise in providing tailored AWS solutions for SMB customers. The company offers comprehensive services including cloud migration, application modernization, and managed cloud services through its Rackspace Elastic Engineering team of AWS-certified experts.

The achievement validates Rackspace's ability to address SMBs' unique needs, considering their deployment models, IT capabilities, and financing preferences. A notable success case is Sharestates, a real estate investment marketplace, which experienced improved customer experience and optimized operations after migrating to AWS with zero downtime.

Rackspace Technology (NASDAQ: RXT) announced it will release its third quarter 2024 financial results after market close on Tuesday, November 12, 2024. CEO Amar Maletira and CFO Mark Marino will host a conference call at 5:00 PM ET on the same day to discuss the company's performance. Interested parties can access the webcast through Rackspace's IR website or participate via phone by pre-registering for dial-in information.

Rackspace Technology (NASDAQ: RXT) has been recognized as a leader in four categories of the 2024 ISG Provider Lens™ AWS Ecosystem Partners Report for the US. The company excelled in Professional Services, Managed Services, Data Analytics, AI and ML, and SAP Workloads. Rackspace boasts over 2,700 AWS certifications worldwide and 18 AWS competencies, positioning it among 13 Leaders in the AWS Partner Ecosystem. ISG highlighted Rackspace's mature technology offerings and talent assets through the AWS Cloud Adoption Framework, particularly noting their strong cloud engineering teams capable of implementing compliant and well-governed data solutions.

Rackspace Technology has strengthened its commitment to the global OpenInfra Foundation by joining its Board of Directors and becoming an OpenStack community Platinum Member. This highest level of membership allows Rackspace to influence the strategic direction of the OpenInfra Foundation community and the industry. The company, which partnered with NASA in 2010 to launch OpenStack, cites increasing demand for OpenStack due to organizations seeking multicloud flexibility, hybrid infrastructure solutions, and cost-efficient cloud consumption.

OpenStack's advantages include empowerment, scalability, flexibility, automation, performance, and interoperability. It's experiencing a resurgence due to expanding demands for data sovereignty, privacy, and cost control. Industries leveraging OpenStack include retail, pharmaceuticals, and banking. Rackspace Technology aims to expand its contributions to the OpenInfra community through this renewed commitment.

Rackspace Technology (NASDAQ: RXT) has launched the Rackspace Rapid Migration Offer (RRMO) to expedite data center migrations to Amazon Web Services (AWS). This comprehensive service includes:

1. Migration planning
2. Landing zone setup
3. Migration execution
4. 24/7/365 Day 2 cloud operations support

RRMO features a fixed per-VM pricing model and includes a two-month trial of Rackspace Modern Operations. The offer is designed to minimize business risks, disruption, and downtime during migration. Key benefits include simplified pricing, a complete migration package, and enhanced rehosting functionality. The service is now available in the AWS Marketplace for customers deploying 100 VMs or more.

Rackspace Technology (NASDAQ: RXT) has collaborated with CAS, a division of the American Chemical Society, to modernize its OpenStack Private Cloud. This upgrade enhances CAS's ability to provide scientific innovators with access to cutting-edge, lifesaving research in chemistry and life sciences. The project focused on improving resiliency, reliability, and functionality of CAS's private cloud infrastructure.

Key achievements include:

• A Minimal Viable Product (MVP) upgrade that advanced CAS through several OpenStack versions with zero downtime
• Management of three important OpenStack environments: development, non-production, and production
• Enhanced support for CAS's new life sciences product line, the CAS BioFinder Discovery Platform™

This collaboration has resulted in cost savings, system optimization, and improved consistency for CAS's mission-critical cloud environment.

Rackspace Technology (NASDAQ: RXT) has unveiled Rackspace Lab Services (RLS), a cloud SaaS solution that transforms training, testing, and demonstration environments globally. RLS combines Broadcom VMware Lab Platform with Rackspace SDDC Flex to offer an on-demand, consumption-based service for simulating complex real-world environments.

Key features include flexible distance learning, experiential learning, scalability, and LTI integration. Benefits range from fully maintained virtual lab environments to enhanced revenue opportunities. RLS aims to accelerate project timelines, facilitate quicker innovation, and provide a competitive advantage for companies.

The service is now available globally as an on-demand, pay-for-use solution, setting a new standard for workforce empowerment, sales facilitation, and application testing.

Rackspace Technology has launched Rackspace OpenStack Enterprise, a fully-managed, enterprise-ready cloud solution built to ensure critical workloads are secure, efficient, and perform at scale. This move reaffirms Rackspace's long-standing commitment to OpenStack and open-source principles.

Key points:

• Rackspace aims to provide cost-effective, flexible cloud alternatives with high control
• The company has contributed over 5.6 million lines of code to OpenStack
• Rackspace has over one billion server hours of experience operating OpenStack clouds
• The new offering addresses security, compliance, cost efficiency, and application modernization needs
• CAS, a division of the American Chemical Society, partnered with Rackspace to modernize its OpenStack Private Cloud

This launch builds on Rackspace's heritage of open-source leadership and development, empowering businesses to prioritize innovation over infrastructure.