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Rackspace shares rocket as it partners with Palantir on artificial intelligence
Rackspace Technology Inc. has partnered with Palantir Technologies Inc. to help its customers deploy and utilize artificial intelligence solutions. This collaboration will allow Rackspace to integrate Palantir’s Foundry and Artificial Intelligence Platform into its customer systems, addressing evolving computing needs driven by AI. Following the announcement, Rackspace shares surged by 226%, closing at $1.68, reflecting investor optimism despite recent quarterly losses and leadership changes at the company.