Palantir and Rackspace forge partnership to accelerate enterprise AI deployment and data migration
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Palantir ticks up and Rackspace surges on new data migration partnership
Palantir (PLTR) has entered into a strategic partnership with Rackspace (RXT), a hybrid multicloud and AI solutions company, to help increase the speed at which enterprises can deploy and operate its analytical and AI-driven software. Rackspace shares had surged more The partnership enables faster, more secure deployment of Palantir's AI software in enterprises using Rackspace's operating model and infrastructure. Mizuho cited Palantir's strong US commercial growth, rising enterprise adoption of AI, and a better risk/reward profile due to its recent stock decline. Palantir is viewed as well-positioned to capitalize on increasing enterprise AI adoption, government digital transformation, and industrial modernization.
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Rackspace Technology Shares Skyrocket on Partnership With Palantir
Rackspace Technology shares surged 263% after the company announced a partnership with Palantir Technologies focusing on Palantir's Foundry and Artificial Intelligence Platform. The stock was recently at $1.54 Tuesday and is down about 49% for the last 52 weeks. Volume was more than 391 million shares, compared with a 65-day average of 1.6 million. "As Palantir's strategic partner in data migration and global implementation services, Rackspace will help customers prioritize their most high-impact business problems, then deliver implementation, including data readiness, hosting, and ongoing managed operations of Palantir's platform to realize outcomes" Rackspace said. Write to Josh Beckerman at [email protected]
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Palantir has partnered with Rackspace Technology to speed up enterprise deployment of its AI-driven software. The collaboration focuses on data migration and implementation services for Palantir's Foundry platform. Rackspace shares surged 263% on the announcement, while analysts highlight Palantir's strong positioning in the growing enterprise AI market.
Palantir and Rackspace Announce Strategic Partnership
Palantir (PLTR) has entered into a strategic partnership with Rackspace (RXT), a hybrid multicloud and AI solutions company, designed to accelerate the speed at which enterprises can deploy and operate its analytical and AI-driven software
1
. The collaboration centers on Palantir's Foundry and Artificial Intelligence Platform, with Rackspace serving as the strategic partner for data migration and global implementation services2
.The partnership enables faster, more secure deployment of Palantir's AI software in enterprises using Rackspace's operating model and infrastructure
1
. According to Rackspace, the company will help customers prioritize their most high-impact business problems, then deliver implementation including data readiness, hosting, and ongoing managed operations of Palantir's platform to realize outcomes2
.Market Response and Stock Performance
The announcement triggered a dramatic market response. Rackspace Technology shares surged 263%, reaching $1.54 on Tuesday
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. Trading volume exploded to more than 391 million shares, compared with a 65-day average of just 1.6 million shares2
. Despite the surge, RXT remains down about 49% over the last 52 weeks, suggesting investors view this data migration partnership as a potential turning point for the struggling multicloud provider.Related Stories
Enterprise AI Adoption and Growth Prospects
Mizuho analysts cited Palantir's strong US commercial growth and rising enterprise AI adoption as key factors supporting the partnership's potential
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. The firm noted a better risk/reward profile for PLTR due to its recent stock decline, while emphasizing that Palantir is well-positioned to capitalize on increasing enterprise AI adoption, government digital transformation, and industrial modernization1
.The collaboration addresses a critical bottleneck in AI deployment: the complex process of data migration and implementation services that enterprises face when adopting sophisticated AI platforms. By leveraging Rackspace's hybrid multicloud infrastructure and operational expertise, organizations can potentially reduce deployment timelines and accelerate their path to AI-driven insights. This matters particularly as enterprises increasingly compete on their ability to extract value from data quickly, making speed-to-deployment a competitive advantage in sectors ranging from healthcare to manufacturing.
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