TLDR
- Rackspace Technology stock surged 12.4% in pre-market trading on September 10, 2026
- The company joined the NVIDIA Cloud Partner Program, gaining access to NVIDIA Blackwell GPU technology
- Rackspace launched its Institutional Sovereign Pod, combining NVIDIA Blackwell, Palantir Foundry and AIP in a private cloud environment
- The offering targets regulated sectors including defense, finance, and government clients
- The stock moved toward $3.641 in pre-market, still well below its 52-week high of $8.60
Rackspace Technology stock jumped 12.4% in pre-market trading Thursday after the company announced it joined the NVIDIA Cloud Partner Program. The stock was trading around $3.641 in pre-open activity, still a long way from its 52-week high of $8.60.
Rackspace Technology, Inc., RXT
The company had touched a 52-week low of $0.393 earlier this year, so this move marks a meaningful shift in momentum.
The NVIDIA partnership gives Rackspace the ability to deliver Blackwell GPU-powered computing to enterprises in regulated industries. These are customers who cannot simply move workloads to public cloud providers due to data sovereignty rules.
Rackspace CEO Gajen Kandiah framed it clearly: the question is no longer who provides the GPU, but who is accountable for running the complete system. That is the role Rackspace is stepping into.
Institutional Sovereign Pod
The headline product launch tied to the announcement is the Institutional Sovereign Pod. It brings together NVIDIA’s Blackwell architecture with Palantir’s Foundry and AIP software inside a governed private cloud environment operated by Rackspace.
The setup is aimed at organizations that need AI in production but cannot compromise on governance, data residency, or security. Defense agencies, financial institutions, and government bodies are the primary targets.
Palantir’s Head of US Commercial, Sameer Kirtane, said the combination of Palantir software, NVIDIA compute, and Rackspace’s managed infrastructure gives enterprises a foundation to move AI into production while keeping control of their most critical operations.
NVIDIA’s VP of global AI clouds, Raj Mirpuri, added that enterprises need full-stack AI factories that can operate continuously and at scale. Rackspace is positioned as the operator making that happen.
NVIDIA Cloud Partner Program
As an NVIDIA Cloud Partner, Rackspace earns competencies across Compute, Networking, Visualization, and NVIDIA Enterprise Software. That gives the company a formal, credentialed role in the NVIDIA ecosystem.
It also means Rackspace can integrate NVIDIA infrastructure and software across the full enterprise AI stack, with Rackspace acting as the single accountable operator for the production environment.
The broader market was not a factor in today’s move. The Nasdaq was slightly lower and the S&P 500 was flat on the day, confirming this rally was driven purely by company-specific news.
An insider “sell to cover” transaction by the company’s CHRO earlier this week was executed for tax withholding purposes only under a pre-established plan and carries no negative signal.
Rackspace’s forward deployed engineering teams will work alongside customers to move from deployment to production faster, with managed operations continuing after launch.
The stock remains well below its 52-week high of $8.60, with pre-market trading placing it around $3.641 as of Thursday morning.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
