🔴 Rackspace Technology is trading 13.71% down today amid Nasdaq's 3.4% drop on AI-spending concerns

Rackspace Technology is trading 13.71% down now at $2.62 amid a broad technology selloff.

• No new company-specific catalyst explaining the decline was identified for October 30, 2026.
• Rackspace Technology’s October 29 HGS AI deployment announcement was positive, not an explanation for the drop.
• Reuters reported disappointing Intel and Amazon results intensified concerns about AI spending and returns; the Nasdaq was down 3.4%.