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High materiality7/10

Rackspace advances Enterprise AI with Palantir, targets 30MW by 2028

Jul 9, 2026, 7:54 AM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

Longer-term expansion into Enterprise AI with Palantir and a capital raise nurtures top-line growth and higher-margin revenue; near-term guidance cut may weigh, but the growth vector could justify multiple expansion if execution aligns with plan.

AI summary

What happened, with direct paths to the underlying reporting

Rackspace outlines becoming the operator of the full enterprise AI stack, anchored by a Palantir partnership and a capital raise. It targets 15 MW by 2027 and 30 MW by 2028 with 50%+ EBITDA margins for AI, while 2026 revenue guidance is trimmed due to supply constraints. The plan hinges on execution and demand.

  • Rackspace aims to run the full enterprise AI stack, raising capital for growth.
  • Palantir partnership expands; ~400 Palantir certifications and 94% faster quote cycles.
  • FY26 revenue guidance cut by $150M and EBITDA down $20M due to constraints.
  • Plans to deploy 15MW by 2027 and 30MW by 2028; 50%+ EBITDA margins.
  • Enterprise AI capacity additive to Private Cloud; Public Cloud resale declines.

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