Full-Time
Updated on 8/23/2026
Managed multicloud cloud services and security
No salary listed
Remote in India
Remote
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Rackspace Technology provides managed cloud services with a focus on multicloud solutions. It helps businesses adopt and transform their IT infrastructure across multiple cloud platforms (including AWS, Google Cloud, and Microsoft Azure) by handling cloud management, data services, and security. Its offerings include Rackspace Elastic Engineering, which gives on-demand engineering and support to help clients innovate and scale operations, with a particular emphasis on VMware environments. The company earns through subscription-based cloud management, consulting, and programs like Referral and Private Equity Partners. Unlike firms that specialize in a single cloud or DIY tooling, Rackspace combines multicloud management, on-demand engineering, data modernization, and security across multiple clouds to simplify IT operations for customers. Its goal is to enable organizations to optimize and secure their cloud environments so they can focus on their core business activities.
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
San Antonio, Texas
Founded
1998
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Remote Work Options
Hybrid Work Options
Company Equity
Employee Stock Purchase Plan
Rackspace names chetan Gupta as its chief AI officer. August 13, 2026 15:00 IST Rackspace Technology, a global enterprise AI infrastructure and solutions provider, has appointed Chetan Gupta, Ph.D., as Chief AI Officer. Gupta will lead the Office of AI, with responsibility for Rackspace's AI strategy, research, innovation, governance, and adoption across the company and its customers. His appointment strengthens Rackspace's ability to help institutions deploy AI safely, economically, and at scale in environments where the stakes are highest: regulated industries, sovereign jurisdictions, and mission-critical operations. Gupta joins Rackspace after nearly a decade leading global AI research at Hitachi, where he served as General Manager of the Advanced AI Center in Japan, Vice President of the Industrial AI Lab in North America, and head of Hitachi's Global AI Center of Excellence. His work was instrumental in Hitachi's evolution toward Physical AI, building systems for railways, energy grids, factories, and buildings, environments where AI must operate under institutional accountability, jurisdictional requirements, and zero tolerance for failure. Earlier in his career, he spent seven years at HP Labs translating advanced AI research into deployed solutions across logistics, manufacturing, energy, and mobility. He has authored nearly 300 papers and patents and mentored a generation of AI researchers and engineers. "Chetan has spent his career building AI for the institutions the world depends on. At Hitachi, that meant trains, grids, and factories, where AI is not a demo, but an operating commitment measured in uptime, safety, and trust," said Gajen Kandiah, CEO of Rackspace Technology. "That is precisely the discipline our customers need as they move AI into production inside regulated and sovereign environments. Chetan understands that success depends on more than model capability. It requires strategy, governance, and an operator who carries accountability from silicon to outcomes." Gupta's appointment reflects Rackspace's continued investment in enabling institutions to turn AI ambition into governed, measurable business outcomes and reinforces the company's position as the place where enterprise AI goes to production. "AI has reached an inflection point. The hard problem is no longer capability. It is trust: taking promising research and turning it into systems that hold up in the real world, under real regulatory and operational constraints," said Gupta. "Rackspace occupies a distinct position in the market, operating the full stack for institutions that cannot afford to get AI wrong. I look forward to leading our AI strategy and advancing enterprise and sovereign AI for our customers and across the business." Gupta holds a Ph.D. in mathematics and master's degrees in mathematical computer science and chemical engineering from the University of Illinois Chicago.
RXT SHAREHOLDER ALERT: securities fraud lawsuit filed on behalf of Rackspace Technology, Inc. investors - contact Kirby McInerney LLP by September 28, 2026. GlobeNewswire | Kirby McInerney LLP Today at 5:00pm PDT NEW YORK, Aug. 12, 2026 (GLOBE NEWSWIRE) - Kirby McInerney LLP reminds investors who purchased Rackspace Technology, Inc. ("Rackspace" or the "Company") (NASDAQ: RXT) securities to contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests in the securities fraud class action lawsuit at no cost. If you suffered a loss on your Rackspace investments, you have until September 28, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions. Learn more about the lead plaintiff process and eligibility requirements here. Follow the link below for more information about the lawsuit: What Is The Lawsuit About? The lawsuit has been filed on behalf of investors who purchased securities during the period of May 7, 2026 and July 8, 2026, inclusive ("the Class Period"). The lawsuit alleges that Rackspace made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects as it failed to disclose to investors that (i) the Company's enterprise AI efforts would require Rackspace to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (ii) Rackspace's Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (iii) as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; and (iv) as a result, the Company's fiscal year 2026 revenue would be significantly impacted. On May 7, 2026, Rackspace announced a partnership with AMD to create an enterprise AI cloud The same day, the Company reaffirmed the fiscal 2026 guidance that had been provided in February and held an earnings call where management described Rackspace's growth and readiness for its new AI pivot, as well as purported details of the mechanics of the AMD deal. On June 16, 2026, the Company announcing a workforce realignment plan "intended to accelerate the Company's strategic transformation as the operator for governed enterprise AI" whereby the Company said it expected to realize "$75 million to $85 million in annualized run-rate savings compared to current expense levels." This plan included a 15% reduction in workforce. On July 9, 2026, Rackspace published its second quarter 2026 financial results and "a strategic and financial update on its transition to becoming the operator of the full enterprise AI stack" and held an earnings call to discuss results. The Company revealed that its AI investments would require a significant re-prioritization of resources, reduced its full year 2026 revenue guidance by $150 million, and reduced its full year 2026 Private Cloud revenue outlook by $25 million, "given the low-margin nature of the exited revenues across both business units and investments in AI compute capacity." Management further explained that the reduced guidance was in part due to the decision to "redeploy capacity and capital towards higher-yielding AI deployments." Management also stated that "We are reducing our public cloud revenue estimate for 2026 by $125 million, driven by this decision to exit low-margin public cloud infrastructure resale revenue and a continuation of the trend of hyperscaler direct contracting." Finally, the Company explained that "[l]ower near-term margins reflect upfront growth investment and restructuring, ahead of AI revenue ramping." On this news, Rackspace's stock price fell $2.21, or 33.6%, to close at $4.37 per share on July 9, 2026. What Should I Do? If you purchased or otherwise acquired Rackspace securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost. Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website. This is a paid placement. For further inquiries, please contact GlobeNewswire directly.
Rackspace Technology (NASDAQ:RXT) shares gap up on better-than-expected earnings. August 11, 2026 Key points. * Rackspace Technology beat quarterly expectations: Revenue reached $670.1 million versus the $646.0 million consensus, while its adjusted loss of $0.08 per share was narrower than the expected $0.09 loss. * The earnings surprise pushed shares up from a $4.73 close to a $5.20 open, though the stock later traded near $4.86. Analysts remain cautious, with a consensus "Reduce" rating and a $2.70 price target. * AI-related and legal risks remain significant: Investors are seeking more clarity on the company's AI execution and profitability, while securities-fraud lawsuits allege investors were misled about its enterprise AI efforts - claims not proven in court. * MarketBeat previews the top five stocks to own by September 1st. Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $4.73, but opened at $5.20. Rackspace Technology shares last traded at $4.8640, with a volume of 4,847,409 shares trading hands. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The company had revenue of $670.10 million during the quarter, compared to analysts' expectations of $646.00 million. Key Rackspace Technology news. Here are the key news stories impacting Rackspace Technology this week: * Positive Sentiment: Rackspace reported second-quarter revenue of $670.1 million, exceeding analysts' $646.0 million consensus estimate. Its adjusted loss of $0.08 per share was also narrower than the expected $0.09 loss, providing a modestly favorable earnings surprise. Rackspace Technology Reports Second Quarter 2026 Results * Neutral Sentiment: The company's earnings release follows a sharp prior decline in the shares, with reports attributing the selloff to concerns about Rackspace's AI initiatives and their potential impact on financial performance. The results may offer some reassurance on near-term revenue and losses, but investors will likely seek more clarity on AI execution, growth prospects and profitability. Rackspace Q2 Earnings Snapshot * Negative Sentiment: Several law firms announced or publicized a securities-fraud class action against Rackspace and certain executives. The lawsuits allege that the company misled investors about its enterprise AI efforts and their effect on its financial results; these allegations have not been proven in court. The proposed class period runs from May 7 through July 8, 2026, and investors have until September 28, 2026, to seek lead-plaintiff status. The legal actions add reputational, financial and management-distraction risks. RXT Investor Announcement and Securities Lawsuit Analysts set new price targets. RXT has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their target price on Rackspace Technology from $2.50 to $4.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $2.70. Discover more Market cap calculator Stock research tools Stock average calculator Insiders place their bets. In other Rackspace Technology news, CFO Mark A. Marino sold 48,099 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $5.56, for a total value of $267,430.44. Following the sale, the chief financial officer owned 3,370,431 shares of the company's stock, valued at $18,739,596.36. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.30% of the stock is currently owned by insiders. Hedge funds weigh in on Rackspace Technology. A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealthfront Advisers LLC acquired a new position in shares of Rackspace Technology during the second quarter valued at about $184,000. Timothy G. Youngquist 2020 Irrevocable Trust acquired a new stake in Rackspace Technology during the second quarter worth about $909,000. BlackRock Inc. acquired a new stake in Rackspace Technology during the second quarter worth about $51,411,000. Pallas Capital Advisors LLC bought a new position in Rackspace Technology during the second quarter valued at about $631,000. Finally, Deutsche Bank AG acquired a new position in Rackspace Technology in the 2nd quarter valued at approximately $590,000. Institutional investors own 82.48% of the company's stock. Rackspace Technology stock performance. The stock has a 50-day simple moving average of $5.32 and a 200 day simple moving average of $3.18. The company has a market cap of $1.21 billion, a P/E ratio of -7.83 and a beta of 3.05. Rackspace Technology company profile. Rackspace Technology NASDAQ: RXT is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace's core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support. Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. 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Rackspace Technology, Inc. investors: September 28, 2026, Deadline in Securities fraud Class Action lawsuit. Aug. 6, 2026 6:52 PM ET Source: Kessler Topaz Meltzer & Check, LLP. Did you buy RXT securities between May 7, 2026 and July 8, 2026? Affected RXT Investor Summary * Who: Rackspace Technology, Inc. (NASDAQ: RXT) * What: Securities fraud class action lawsuit filed * Class Period: May 7, 2026 through July 8, 2026 * Deadline to Seek Lead Plaintiff Status: September 28, 2026 * Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company's enterprise AI efforts. * Investor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options RADNOR, PA - August 6, 2026 (NEWMEDIAWIRE) - Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Rackspace Technology, Inc. (Rackspace) (NASDAQ: RXT) on behalf of those who purchased or acquired Rackspace securities between May 7, 2026 and July 8, 2026, inclusive. The lawsuit is filed in the United States District Court for the Southern District of New York and is captioned Morgan-Reed v. Rackspace Technology, Inc., No. 1:26-cv-06491 (S.D.N.Y.). Investors have until September 28, 2026, to file for lead plaintiff status. CONTACT KTMC TO DISCUSS YOUR LEGAL RIGHTS: If you purchased or acquired Rackspace securities and have lost money on your investment, please provide your information here: https://www.ktmc.com/rxt-rackspace-technology-inc-class-action-lawsuit?utm_source=NewMediaWire&utm_medium=pressrelease&utm_campaign=rxt&mktm=PR You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. There is no cost or obligation to speak with an attorney. RACKSPACE TECHNOLOGY, INC. CLASS ACTION LAWSUIT - COMPLAINT ALLEGATION SUMMARY: The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, and/or failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Rackspace's enterprise AI efforts would require the company to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) Rackspace's Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (3) as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; (4) consequently, Rackspace's fiscal year 2026 revenue would be significantly impacted; and (5) as a result of the foregoing, Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Why did Rackspace's Stock Drop? On July 9, 2026, before the market opened, Rackspace published its second quarter 2026 financial results and disclosed "a strategic and financial update on its transition to becoming the operator of the full enterprise AI stack." Specifically, Rackspace revealed that its AI investments would require a significant re-prioritization of resources and, as a result, reduced its full year 2026 revenue guidance by $150 million. Rackspace also cut its full year 2026 Private Cloud revenue outlook by $25 million and explained that "[l]ower near-term margins reflect upfront growth investment and restructuring, ahead of AI revenue ramping." On this news, Rackspace's stock price fell $2.21 per share, or 33.6%, to close at $4.37 per share on July 9, 2026. WHAT RACKSPACE TECHNOLOGY, INC. INVESTORS CAN DO NOW: * File to be lead plaintiff by September 28, 2026. * Contact KTMC for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you. * Retain counsel of choice or take no action. THE LEAD PLAINTIFF PROCESS FOR RACKSPACE TECHNOLOGY, INC. INVESTORS: Rackspace investors may, no later than September 28, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Rackspace investors to contact the firm for more information. ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC): Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including being recognized in Chambers & Partners USA 2026 as a Band 1 Top Firm in Securities and Class Actions, Legal 500's Tier 1 Rankings for Securities and M&A Litigation, The National Law Journal's Plaintiff's Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group's Honor Roll of Most Feared Law Firms, The Legal Intelligencer's Class Action Firm of the Year, Lawdragon's Leading Plaintiff Financial Lawyers, and Law360's Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for its clients and the classes they represent. The complaint in this matter was not filed by KTMC. May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
Pranav Nambiar joins Rackspace Technology to scale sovereign AI Infrastructure. August 6, 2026 San Antonio, TX - August 6, 2026 - Rackspace Technology(R)(NASDAQ: RXT), a global enterprise AI infrastructure and solutions provider, today announced the appointment of Pranav Nambiar as Senior Vice President and General Manager, AI Infrastructure. Nambiar will lead the infrastructure, operating model, partnerships and go-to-market strategy behind Rackspace's AI infrastructure offerings, further strengthening the company's position as a governed, model-agnostic operator of AI in production for regulated and mission-critical enterprises. As enterprises move AI out of pilots and into production, demand has shifted from raw GPU capacity to governed compute: sovereign environments, compliance by design and operational discipline at scale. Nambiar's appointment accelerates Rackspace's investment in exactly that layer. Nambiar brings more than two decades of experience architecting multi-billion-dollar technology ecosystems and delivering transformative growth at Amazon Web Services, DigitalOcean, Google and Microsoft. At DigitalOcean, he served as Senior Vice President and General Manager of AI and Data Cloud, leading the company's strategic shift into a premier "AI Neo Cloud" and expanding production inference infrastructure for thousands of customers. "Enterprise AI has moved past the question of which model to use. The hard problem now is the infrastructure and operating discipline around the model: governed, sovereign, compliant and running in production at scale," said Gajen Kandiah, CEO of Rackspace Technology. "Pranav has spent his career building and scaling AI and cloud platforms at hyperscale, and he knows what it takes to run AI as a reliable operation rather than a pilot. His leadership will accelerate the infrastructure, operating model and partnerships behind sovereign, compliant and enterprise-ready AI for our customers. I am delighted to welcome him to Rackspace." Prior to his tenure at DigitalOcean, Nambiar led Google's generative AI and data services portfolio. At AWS, he led services including Amazon DynamoDB, Amazon Elasticsearch and Amazon SageMaker, and played a key role in shaping the company's data and AI platforms. Earlier in his career, Nambiar held multiple leadership positions at Microsoft, where he led digital strategies across its mobile, search and Windows businesses. He has advised C-suite executives and board members on enterprise AI, agentic innovation and autonomous systems for regulated industries. "Rackspace has something rare in this market: real infrastructure, deep operational experience and the trust of enterprises in the most demanding regulated sectors," said Nambiar. "The next phase of enterprise AI will be won in production, and I look forward to building the platform that gets customers there."