BUZZ-Rackspace up, cuts workforce and signs data center deal with AMD

Advanced Micro Devices, Inc.
Rackspace Technology, Inc.

Advanced Micro Devices, Inc.

AMD

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Rackspace Technology, Inc.

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** Cloud-computing services firm Rackspace Technology RXT.O gains 0.6% to $6.25 in extended trading, after closing up ~5% on Tuesday

** RXT signs data center deal with chip firm Advanced Micro Devices AMD.O

** Companies say will gradually deploy 30 megawatts of AMD-based AI compute power in RXT data centers worldwide

** RXT says in a regulatory filing it approved a workforce realignment plan on June 10 to focus more on governed enterprise AI

** The realignment is expected to lead to the termination of ~15% of RXT's global workforce

** Up to last close, RXT up ~540% this year


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