Rackspace Technology (RXT) extends its gains, trading at $6.83 (6.4% up) today, following a 12.33% surge on July 6. The rally is driven by sustained investor enthusiasm for the company's strategic pivot into AI infrastructure. - The significant price movement is notably fueled by the definitive agreement with AMD to deploy 30 MW of AI compute for regulated enterprise and healthcare workloads, a deal formalized in June 2026. - Further supporting the momentum are strong fiscal Q1 2026 financial results, which included a significant turnaround to net income, and recent analyst price target upgrades. - The company also announced a workforce realignment in June 2026, cutting 15% of staff to reinvest savings into AI initiatives.