- Palantir’s software will also run in Rackspace’s Private Cloud and U.K. Sovereign data centers.
- Rackspace plans to increase the number of engineers trained on Palantir’s technologies to more than 250 over the next year from 30 currently.
- The companies expect the partnership to significantly shorten AI deployment timelines.
Shares of Rackspace Technology (RXT) extended their gains after the opening bell on Wednesday, building on a more than twofold surge in pre-market trading, after the company announced a partnership with Palantir Technologies (PLTR) to help enterprises rapidly deploy Palantir’s Foundry and Artificial Intelligence Platform.
At the time of writing, RXT shares were up 275%, while PLTR stock climbed 4.7%.
Rackspace To Deploy Palantir Software In UK
As part of the agreement, Palantir’s software will also run in Rackspace’s Private Cloud and U.K. Sovereign data centers. Rackspace currently has 30 engineers trained on Palantir’s technologies to assist with data migration and complex deployments, and plans to expand that number to more than 250 over the next year. The companies expect the partnership to significantly shorten AI deployment timelines.
“Palantir’s platform, combined with Rackspace's governed cloud operations and our shared forward-deployed engineering approach, enables customers to accelerate time to value and drive competitive business impact with governance and security. This is especially important in regulated industries,” said Gajen Kandiah, CEO of Rackspace Technology.
Rackspace’s VMware Sovereign Cloud Partner Status
Last month, Rackspace Technology announced that its U.K. Sovereign Services cloud platform earned VMware Sovereign Cloud Partner Status, confirming that it meets data sovereignty standards. The company said the designation validates its ability to comply with national privacy and security regulations.
The company’s Sovereign Services platform offers a fully managed private cloud built on VMware technologies and operated from U.K.-based data centers. The platform serves public-sector agencies, financial services, and healthcare services.
How Did Stocktwits Users React?
Retail sentiment on Stocktwits changed to ‘extremely bullish’ from ‘bullish’ a day earlier, amid ‘extremely high’ message volumes.
One user commented saying it’s the “right partnership” and a “buyout target.”
Another user expects the stock to climb to $1.90 if it breaks past the $1.70 resistance. RXT stock is currently trading at around $1.5.
The stock has gained around 50% so far in 2026.
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