AMD and Rackspace Sign Definitive 30 MW Enterprise AI Compute Deployment Agreement, Sending Rackspace Shares Up 27%

AMD and Rackspace Technology signed a definitive agreement on June 16, 2026 for the phased deployment of 30 MW of AMD Instinct GPU and EPYC CPU capacity across Rackspace's global data centers from late 2026 through 2028, converting a May 7 MOU into a binding contract targeting regulated enterprise workloads including healthcare. The deal positions AMD as a strategic silicon-layer partner in Rackspace's governed AI stack, directly challenging NVIDIA's enterprise cloud dominance. Rackspace shares surged 27% on the signing, extending a roughly 500% year-to-date gain built almost entirely on the AMD partnership thesis.