Rackspace Technology achieves AWS automotive competency

SAN ANTONIO - Rackspace Technology (NASDAQ:RXT), a cloud solutions provider with annual revenue of $2.7 billion and currently trading at $1.49, has achieved the Amazon Web Services (AWS) Automotive Competency designation, the company announced Friday.

The designation recognizes Rackspace’s technical expertise and successful track record in delivering cloud solutions to automotive companies and their suppliers on the AWS platform. While the company’s stock has declined nearly 29% over the past six months, it has shown recent momentum with a 6.4% gain in the past week.

According to the company, this achievement follows over five years of work with Original Equipment Manufacturers (OEMs) and Tier 1 suppliers globally. The competency specifically acknowledges partners who have demonstrated capabilities in supporting digital transformation initiatives in the automotive sector.

"We combine deep industry knowledge with the complete Rackspace Technology portfolio for sustainable mobility solutions of the future," said D K Sinha, President of Public Cloud at Rackspace Technology.

As part of its automotive industry work, Rackspace recently supported a German automotive OEM in modernizing its shopfloor Information Technology infrastructure on AWS. The project implemented an event-driven data pipeline that provided real-time visibility into machinery data, enabling faster operator response times and streamlined analytics capabilities.

The AWS Automotive Competency adds to Rackspace’s existing portfolio of AWS competencies, according to the statement released by the company.

Rackspace Technology describes itself as an end-to-end hybrid cloud and AI solutions provider that designs, builds, and operates cloud environments across major technology platforms.

In other recent news, Rackspace Technology reported its second-quarter 2025 financial results, revealing a mixed performance. The company posted an earnings per share (EPS) of -$0.06, which was wider than the anticipated loss of -$0.04. However, Rackspace Technology exceeded revenue expectations, achieving $666.3 million compared to the forecasted $661.96 million. In leadership changes, Gajen Kandiah has been appointed as the new Chief Executive Officer, effective September 3, 2025, succeeding Amar Maletira, who will transition to Vice Chairman of the Board. Additionally, director Shashank Samant has resigned from the board, a move not attributed to any disagreement with the company. BMO Capital recently adjusted its price target for Rackspace Technology to $1.40 from $1.75, maintaining a Market Perform rating. The firm noted improvements in top-line trends with a 3.2% year-over-year constant currency decline, compared to a 3.7% decline in the previous quarter. These developments reflect ongoing changes and adjustments within Rackspace Technology.

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