RXT Surges to $8.60 on AMD Deal, NBIS and ARM Hit 52-Week Highs on AI Demand

According to RBC Capital and Bernstein, Rackspace Technology (RXT), Nebius Group (NBIS), and Arm Holdings (ARM) shares hit 52-week highs on Wednesday, June 18, driven by strategic catalysts. RXT jumped to $8.60, up 21%, after RBC raised its price target to $4 on a multi-year GPU partnership with Advanced Micro Devices (AMD) through 2028. NBIS climbed to $297.93 on aggressive AI cloud infrastructure expansion and its addition to the Nasdaq 100 Index later this month.

Arm shares reached $444.80 after Bernstein raised its price target to $500, citing growing demand for AI agent workloads powered by its energy-efficient CPU architecture. The analyst increased its 2030 revenue forecast for Arm to $22 billion, up from $15 billion.