Rackspace Technology, Inc. (RXT)

Rackspace Technology is an end-to-end hybrid cloud and AI solutions company. It acts as an operator of the full technology stack, from governed private cloud infrastructure to AI deployed in production. It designs, integrates and operates the infrastructure, data foundations and software platforms that enterprises need across edge, core, private cloud, public cloud and sovereign environments. The company focuses on regulated and mission-critical environments where uptime, data sovereignty and operational accountability are essential. Its predecessor was founded in 1998, went public in 2008, was taken private in 2016, and Rackspace Technology returned to the public markets through an IPO in August 2020.

Since January 1, 2023, the company has reported two segments, Public Cloud and Private Cloud. Private Cloud covers programmatic infrastructure (compute, network and storage hardware and services), cloud operating systems based on VMware by Broadcom or OpenStack, managed Kubernetes, platform-as-a-service offerings such as RXDB, RSDX and SPOT, and use-case solutions for AI, SAP and Oracle ERP, Epic healthcare workloads, and sovereign and government-compliant needs. It also includes managed and professional services, security services and Rackspace Email. Public Cloud bundles AWS, Microsoft Azure and Google Cloud infrastructure with managed services, professional services, elastic engineering and proprietary tools, delivered through four service lines: Cloud Platform, Cloud Apps, Cloud Security and Cloud Data. Rackspace AI is a portfolio of AI services that grew out of the Foundry for Artificial Intelligence (FAIR) launched in 2023. Engagements often start with professional services and continue with long-term managed services.

Rackspace serves companies of all sizes, with an emphasis on regulated and mission-critical industries including healthcare, and it is expanding into the mid-market and selectively targeting enterprises. It served over 75,000 customers across 120 countries as of December 31, 2025, and has a presence in more than 60 cities. Sales are led by more than 350 quota-bearing representatives and customer success managers, supported by a partner ecosystem. Demand drivers cited include growing data volumes, AI adoption, the cost of on-premises data centers, and the complexity of managing multi-cloud and hybrid environments.

The company has about 5,000 employees, called Rackers, and delivers services through an integrated global model that includes 24x7x365 operations and a security operations center. Key technology partners include AWS, Google Cloud, Microsoft Azure, VMware by Broadcom, Dell Technologies and Palantir Technologies, and it works with OEMs such as Cisco, Palo Alto Networks and NetApp. Its technology platform includes automation, an AIOps platform, self-service APIs, web portals, unified billing and service management tools. Competitors include customers' in-house IT departments, global systems integrators such as Accenture, Atos, Capgemini, Cognizant, Deloitte, DXC Technology and Kyndryl, and single-cloud service providers and digital systems integrators.