Thursday 29 July 2010
Rackspace Hosting Inc.’s (RAX) flight into cloud computing has hit some turbulence, as a couple recent service outages have knocked down the high-flying stock, but the manager of corporate data is seen resuming its ascension. Since early last year, the San Antonio-based company has spent nearly $290 million, or more than half its 2008 revenue, on equipment to build up its hosting and cloud computing services, which allow companies to access computing tasks through the Web. The spending has put Rackspace in a favorable position, even against bigger rivals, in an increasingly competitive market and has contributed.
