Stock Market Today, May 8: Rackspace Surges on AMD AI Cloud Agreement
2026-05-08 18:39:59 ET
Rackspace Technology (NASDAQ:RXT) , a provider of end-to-end multi-cloud technology services, closed at $5.49, up 55.97%. Shares surged after the company announced an AI cloud infrastructure partnership with AMD focused on governed enterprise AI for regulated customers, and investors are watching how this collaboration could drive future demand.
The company’s trading volume reached 150.9 million shares, which is about 389% above compared with its three-month average of 30.6 million shares. Rackspace Technology went public in 2020 and has fallen 66% since its IPO.
The broader markets advanced Friday, with the S&P 500 (SNPINDEX:^GSPC) rising 0.84% to 7,398.93 and the Nasdaq Composite (NASDAQINDEX:^IXIC) gaining 1.71% to finish at 26,247.08. Among software - infrastructure peers, Akamai Technologies (NASDAQ:AKAM) closed at $147.71, up 26.58%, while Cloudflare (NYSE:NET) finished at $196.13, down 23.62%, reflecting sharply different reactions to growth and restructuring news.
NASDAQ: RXT
RXT Trading
2.67% G/L:
$6.91 Last:
4,295,042 Volume:
$6.74 Open:
