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Rackspace Technology, Inc. (RXT) is a leading provider of end-to-end, hybrid, multi-cloud technology services. The company specializes in designing, building, and operating its customers' cloud environments across all major technology platforms, including OpenStack, Microsoft, and VMware. Rackspace offers a comprehensive suite of solutions categorized into Application Services, Data, Colocation, Cloud, Managed Hosting, Professional Services, and Security & Compliance. This diverse service portfolio enables businesses to leverage cloud computing without the complexity and cost of managing IT infrastructure and applications independently.
Serving over 300,000 customers globally, including two-thirds of the Fortune 100, Rackspace is renowned for its Fanatical Support®—a results-driven service that emphasizes customer success. The company's expertise is further validated by its recognition as a leader in the Gartner Magic Quadrant for Cloud-Enabled Managed Hosting and its repeated inclusion in Fortune’s list of best companies to work for.
Rackspace is constantly innovating, as evidenced by its partnership with Google Cloud to showcase generative AI services and solutions. Their Foundry for AI by Rackspace (FAIR) initiative is dedicated to advancing business transformation and improving customer experiences through responsible AI technologies. FAIR has identified over 500 AI use cases and is actively working on industry-leading implementations worldwide.
Recent advancements include the integration of a Generative AI-enabled intelligent system with Microsoft Azure OpenAI Service, significantly enhancing data retrieval and business insights capabilities. Additionally, Rackspace has collaborated with healthcare organizations like Seattle Children's to manage critical workloads, ensuring improved patient care and optimized operations.
Rackspace's commitment to innovation extends to ethical AI practices, as demonstrated by their partnership with OhioX to promote responsible AI adoption and drive economic growth in Ohio. The company’s broad expertise and strategic partnerships enable it to support a wide array of industries, helping them modernize applications and adopt cutting-edge technologies.
For more information, visit www.rackspace.com.
Rackspace Technology (NASDAQ: RXT) has been named Dell Technologies Global Alliances Service Provider of the Year, Americas. This recognition highlights Rackspace's leadership in end-to-end, hybrid multicloud, and AI solutions. The award celebrates the successful collaboration between Rackspace and Dell, offering integrated solutions that address business and IT challenges, driving digital transformation, and providing value to customers. Adrianna Bustamante, VP of Private Cloud Partnerships, emphasized that this accolade underscores their efforts in hybrid multicloud, healthcare, and AI, enabling cost reductions, data control improvements, and new AI use cases while ensuring compliance and security.
Rackspace Technology (NASDAQ: RXT) announced that Seattle Children's has successfully implemented its Epic Electronic Health Records (EHR) system using Rackspace’s Healthcare Cloud solution.
This decision followed a thorough evaluation of cloud service providers, leading to Rackspace's selection for managing migrations and providing fully managed private cloud infrastructure services for Epic.
The collaboration involves SLA-backed managed services, a predictable cost model, and expandability for growth, enabling improved patient care and optimized business operations.
Rackspace's role includes seamless migration and support for Epic infrastructure, facilitating better patient care coordination and data management.
Rackspace Technology reported first quarter 2024 results with revenue of $691 million, down 9% year-over-year. Private Cloud revenue was $268 million, down 15% year-over-year, while Public Cloud revenue was $422 million, down 5% year-over-year. The company achieved results above the high-end of guidance for revenue, operating profit, and EPS. However, there was a loss from operations of $(653) million, with non-GAAP Operating Profit decreasing by 68% to $16 million. The company aims to position itself for consistent revenue and profit growth in 2024.
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