US Stock Market Move | Rackspace Technology (RXT.US) signs contract with AMD to deploy 30 megawatts of computing power, with shares opening up more than 13%.

On Tuesday, Rackspace Technology (RXT.US) opened up more than 13%, with a nearly 600% surge since the beginning of the year, now trading at $6.81. In terms of news, AMD (AMD.US) and AI infrastructure solutions provider Rackspace Technology have signed an agreement to deploy the first phase of 30 megawatts (MW) of AMD AI computing resources in stages. This deployment will begin at the end of 2026 and continue through 2028, covering Rackspace's global data centers. The agreement is the implementation of the memorandum of understanding announced by the two companies last month. The two companies stated that after full deployment, the 30 MW of AMD exclusive computing resources will provide significant service capabilities to meet the regulatory workload demands of enterprises, including healthcare providers who have shown early interest in accelerated computing for clinical AI and large-scale inference.