Latest News In Cloud AI - Rackspace Expands To Riyadh Boosting Middle East Tech Growth

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Rackspace Technology has announced the establishment of its regional headquarters in Riyadh, Saudi Arabia, aimed at bolstering cloud and AI growth in the Middle East. This strategic move is set to support digital transformation initiatives across the Gulf Cooperation Council (GCC) region, in alignment with Saudi Arabia's Vision 2030. By positioning itself closer to its Middle Eastern clientele and partners, Rackspace Technology aims to enhance its localized delivery of cloud and AI solutions, fostering innovation and economic growth in one of the fastest-growing digital economies in the world.

In other market news, IonQ (NYSE:IONQ) was trading firmly up 10.6% and closing at $62.80. At the same time, Knowledge Atlas Technology (SEHK:2513) trailed, down 13.5% to end the day at HK$1,136.00.

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Best Cloud AI Stocks

  • ServiceNow (NYSE:NOW) closed at $114.19 up 1.5%. This week, ServiceNow and NICE Ltd. launched a joint solution to unify real-time customer engagement with enterprise workflows, enhancing customer experience through AI-driven capabilities.
  • Microsoft (NasdaqGS:MSFT) ended the day at $411.74 down 1.2%. On Monday, NHS England announced its accelerated AI adoption using 365 Copilot to enhance healthcare efficiency.
  • Alphabet (NasdaqGS:GOOGL) finished trading at $363.31 down 1.4%.

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