Rackspace Loan Surges on AMD Data Center Partnership

Rackspace Technology's $1.6 billion loan has significantly increased in value following a new data center agreement with Advanced Micro Devices (AMD). This development marks a substantial recovery for the company's debt, which had previously traded at deeply distressed levels. The partnership with AMD is expected to bolster Rackspace's position in the competitive cloud computing market, signaling renewed investor confidence in the company's future prospects and operational strategy.