Rackspace Technology partnered with Munster Technological University to launch QCloud, Ireland's first quantum cloud computing hub.
Quiver AI Summary
Rackspace Technology has partnered with Munster Technological University (MTU) to launch QCloud, Ireland’s first quantum cloud computing hub on Amazon Web Services (AWS). This initiative aims to enhance collaborative research and improve access to quantum computing technologies for researchers across Ireland. Developed due to MTU's commitment to democratizing quantum resources, QCloud offers centralized access to these technologies, benefiting multiple universities and research institutes. It supports various innovative projects while facilitating cost management and real-time monitoring of quantum research activities. The project is part of a broader effort to establish Ireland as a significant player in quantum research, with expectations to double research initiatives in the coming year.
Potential Positives
- Rackspace Technology collaborated with Munster Technological University to launch QCloud, Ireland's first quantum cloud computing hub, positioning the company as a key player in the quantum research ecosystem.
- The initiative enhances collaborative research capabilities by providing centralized access to quantum computing resources for multiple universities and research institutes, significantly advancing the company’s innovation credentials.
- QCloud’s development involved securing essential funding for research opportunities, which boosts Rackspace's reputation as a facilitator of scientific progress and collaboration.
Potential Negatives
- Over-reliance on partnership with Munster Technological University for a significant project could raise concerns about the company's own technological capabilities and independent innovation.
- The reliance on external funding from the EOSC Future project reflects potential limitations in Rackspace's own financial resources for developing advanced technology solutions.
- The announcement may signal that the company's traditional offerings are being supplemented by innovative partnerships, suggesting a possible shift in focus that could confuse stakeholders about Rackspace's core business strategy.
FAQ
What is QCloud and who developed it?
QCloud is Ireland's first quantum cloud computing hub, developed by Rackspace Technology in partnership with Munster Technological University.
How does QCloud benefit researchers in Ireland?
QCloud provides centralized access to quantum computing resources, fostering innovation and enabling secure connectivity for researchers across Ireland.
What projects and institutions are involved with QCloud?
QCloud connects eight universities and 13 research institutes, supporting 12 startups and 11 major research projects.
How did Rackspace Technology contribute to QCloud?
Rackspace Technology played a crucial role in securing funding and developing the infrastructure for QCloud, leveraging its expertise in AWS technologies.
What is the vision for the future of QCloud?
QCloud aims to double its research projects in the coming year and further democratize access to quantum computing resources.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RXT Insider Trading Activity
$RXT insiders have traded $RXT stock on the open market 14 times in the past 6 months. Of those trades, 1 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $RXT stock by insiders over the last 6 months:
- AMAR MALETIRA (Chief Executive Officer) has made 0 purchases and 5 sales selling 366,905 shares for an estimated $882,190.
- DHARMENDRA KUMAR SINHA (EVP, President, Public Cloud) has made 0 purchases and 2 sales selling 111,905 shares for an estimated $295,749.
- SRINI KOUSHIK (President, Technology) has made 0 purchases and 3 sales selling 35,238 shares for an estimated $90,874.
- BRIAN LILLIE (EVP, President Private Cloud) sold 20,165 shares for an estimated $51,219
- ANTHONY C. ROBERTS purchased 19,455 shares for an estimated $50,583
- MARK A. MARINO (Chief Financial Officer) sold 14,458 shares for an estimated $33,831
- KELLIE TEAL-GUESS (Chief Human Resources Officer) sold 6,993 shares for an estimated $17,762
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$RXT Hedge Fund Activity
We have seen 51 institutional investors add shares of $RXT stock to their portfolio, and 34 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LEGAL & GENERAL GROUP PLC removed 7,843,252 shares (-99.9%) from their portfolio in Q3 2024, for an estimated $19,215,967
- MACKENZIE FINANCIAL CORP removed 1,160,726 shares (-16.6%) from their portfolio in Q3 2024, for an estimated $2,843,778
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Full Release
SAN ANTONIO, Feb. 04, 2025 (GLOBE NEWSWIRE) --
Rackspace Technology
®
(NASDAQ: RXT)
, a leading provider of hybrid, multicloud, and AI technology solutions, today announced, working with Munster Technological University (MTU) to unveil QCloud, Ireland's first quantum cloud computing hub on Amazon Web Services (AWS). This groundbreaking initiative aims to enhance collaborative research and remove barriers to accessing cutting-edge quantum computing technologies.
Established in 2021, MTU operates across six campuses in southwestern Ireland and is at the forefront of national cybersecurity initiatives within the European Union. QCloud was developed due to MTU’s commitment to democratizing access to quantum resources, enabling secure and scalable connectivity to genuine quantum computing power for researchers throughout Ireland. MTU partnered with Rackspace Technology on the project due to its expertise in navigating the European Open Science Cloud (EOSC) Future project, which encourages collaboration between commercial service providers and researchers.
“Rackspace collaborated with MTU to secure essential funding to launch QCloud, enhancing research opportunities across the region,” said D K Sinha, Rackspace Technology, President Public Cloud. “We are proud of this accomplishment because, through QCloud, MTU has established Ireland as a quantum research hub, democratizing access to cutting-edge quantum computing resources and fostering the next generation of quantum innovation.”
QCloud Implementation
Following a successful proposal process facilitated by Rackspace, MTU launched QCloud in February 2024 with funding from the EOSC Future project. This innovative platform provides centralized access to quantum computing resources for researchers, facilitating groundbreaking work in various fields, including autonomous systems security. Through QCloud, MTU establishes Ireland as a key player in the quantum research ecosystem, fostering innovation and democratizing access to quantum computing resources.
Collaboration between MTU, Rackspace Technology, and AWS resulted in a comprehensive quantum research environment that includes:
A centralized platform providing quantum computing access to eight universities and 13 research institutes
AWS Control Tower landing zone with Account Factory for streamlined project management
Custom quantum cost control dashboard for Amazon Braket using Amazon Identity and Access Management (IAM), AWS Cloud Development Kit (CDK), Amazon EventBridge and Amazon CloudWatch
Real-time cost tracking with automated budget alerts and management systems
“Rackspace's collaboration was essential for establishing the QCloud infrastructure. Their expertise in AWS technologies was invaluable throughout this process,” said Dr. Anila Mjeda, Cybersecurity Lecturer at MTU. “QCloud opens doors for researchers to explore advanced applications while managing costs effectively, allowing for real-time monitoring and budget management. With QCloud, researchers can leverage actual quantum computers, moving beyond traditional simulators that fall short in accounting for real-world factors like quantum noise.”
QCloud Impact and Vision
Since its inception, QCloud has connected multiple institutions, supporting 12 startups and 11 major research projects. The platform marks a significant shift in Ireland's quantum research landscape, empowering universities to provide hands-on experiences with quantum computing.
"In classical computing, information is stored in binary code, represented by ones and zeroes," said Dr. Hazel Murray, Ph.D., Cybersecurity Lecturer and QCloud Project Lead at MTU. "Quantum computing, however, leverages quantum particles, where information is encoded in the quantum states of electrons or photons, for instance. This enables exponentially greater flexibility in data representation, unlocking the potential to store and analyze information beyond the limitations of classical systems."
The university expects to double its research projects in the coming year and welcomes new participants. "This is a remarkable time for innovation in quantum computing. We’re finally seeing ideas evolve into commercial and societally beneficial products while exploring new possibilities," added Murray.
For additional in-depth details on the groundbreaking Munster Technology University QCloud initiative, click to read the entire
case study
and
view the video.
About Rackspace Technology
Rackspace Technology
is a leading end-to-end, hybrid, multicloud, and AI solutions company. We can design, build, and operate our customers' cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products, and adopt innovative technologies.
Media Contact: Natalie Silva,
publicrelations@rackspace.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
