GlobeNewsWire
24 Aug 2026, 10:46 UTC · 1h ago
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Rackspace reduced its full-year 2026 revenue guidance by $150 million and its Private Cloud revenue outlook by $25 million. — Direct reductions in top-line revenue guidance typically lead to immediate valuation downgrades.
-0.80A securities fraud class action lawsuit has been filed against Rackspace and its executives alleging they misled investors regarding AI efforts. — Legal proceedings for fraud create significant regulatory risk and potential for large financial settlements.
-0.60Rackspace disclosed that its AI investments require a transition away from certain revenue-generating segments to re-prioritize resources. — Cannibalizing existing revenue streams to fund unproven AI growth increases operational risk.
-0.40Which stocks this story touches
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The company is facing a securities fraud class action lawsuit following a 33.6% stock drop and a significant cut to revenue guidance.
Mentioned as a partner for AI infrastructure, but the negative news centers on Rackspace's execution and disclosures rather than AMD.
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GlobeNewsWire
1h ago
