AMD Wins 30MW AI Compute Deal with Rackspace; ARK Innovation Sells Shares
AMD•AMD announced a definitive agreement with Rackspace Technology for a phased deployment of 30 megawatts of AMD-based AI compute infrastructure into Rackspace data centers, positioning AMD as a core silicon partner for regulated industries. Meanwhile, Cathie Wood's ARK Innovation fund trimmed its AMD stake as part of a wider sell-off without any buys, and AMD stock hit an all-time high during the recent AI-driven storage and memory sector rally.
1. Rackspace Partnership
AMD and Rackspace Technology signed a definitive agreement to deploy up to 30 megawatts of AMD-based AI compute infrastructure in Rackspace’s data centers. The phased rollout formalizes a prior memorandum of understanding and establishes AMD as a core silicon partner for Rackspace’s regulated-industry AI services, including healthcare and finance.
2. ARK Fund Trims AMD Stake
Cathie Wood’s ARK Innovation ETF reduced its position in AMD as part of a broader sell-off that included Tesla, Amazon and others, with no corresponding purchases reported. The move reflects a tactical rebalancing rather than a shift in long-term conviction, as the fund continues to trade on market strength.
3. AI-Driven Sector Rally
AMD stock reached an all-time high following a surge in AI-related storage and memory stocks, such as Western Digital and Micron, which rose on renewed optimism around data-center demand. Investors are betting on continued AI infrastructure growth and potential rate relief after recent geopolitical developments lifted sector sentiment.
