ATLANTA, GA – – (Globe Newswire – July 30, 2026) – – A shareholder class action lawsuit has been filed against Rackspace Technology, Inc. (“Rackspace”) (NASDAQ: RXT). The lawsuit alleges that: (1) Rackspace’s enterprise AI efforts would require it to significantly re-prioritize its capacity and capital away from the profitable Private Cloud segment; (2) Rackspace’s Public Cloud revenue was declining as customers contracted directly with hyperscale cloud platforms; (3) as a result, Rackspace was likely to significantly reduce a material portion of its Public Cloud infrastructure resale business; and (4) as a result, Rackspace’s fiscal year 2026 revenue would be significantly impacted.

If you purchased Rackspace shares between May 7, 2026 and July 8, 2026, and experienced a loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832, or by visiting the firm’s website at www.holzerlaw.com/case/rackspace-technology/ for more information.

The deadline to ask the court to be appointed lead plaintiff in the case is September 28, 2026.