Rackspace and Palantir Ink Definitive AI Operating Framework for Regulated Enterprises
RXT has more than doubled off its 52-week low of $0.393.
Summary
Rackspace Technology and Palantir have signed a definitive agreement establishing an operating framework to deploy Palantir Foundry and AIP in regulated and sovereign environments, with Rackspace named a preferred partner. This formalizes the partnership first announced in February 2026 and follows Rackspace's strategic pivot into enterprise AI, including a 15% workforce cut and a $1.6B loan. The deal includes a commitment to deploy Palantir's platform across 70% of Rackspace's own back-office operations, and the first joint customer deployment delivered a 94% reduction in quote cycle time. With approximately 400 Palantir certifications already in place, Rackspace is positioning itself as a key operator for AI in compliance-heavy industries like healthcare, finance, and energy. The agreement adds a concrete revenue-generating partnership to Rackspace's AI strategy, though financial terms were not disclosed.
At the time of this announcement, RXT was trading at $7.12 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $0.39 to $8.60. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.