Reuters broke news that Amazon is in talks to invest in U.S. cloud services provider Rackspace Technology. The deal would involve Amazon acquiring a minority stake in Rackspace, Reuters sources said. Rackspace helps companies migrate their data to Amazon Web Services, and the investment would strengthen the ties between the two companies.
Reuters reveals Amazon in talks to invest in cloud services company Rackspace; market reacts
Rackspace Technology shares rose as much as 19% on the news.