SPOT offers cloud infrastructure auctioned in an open market model with a dynamic customer-driven bidding process that sets compute market price

SAN ANTONIO, March 19, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology^® (NASDAQ: RXT), a leading end-to-end hybrid, multicloud, and AI technology solutions company, introduced today Rackspace SPOT, the world’s only open market auction for cloud servers. Rackspace SPOT offers instant online sign-up, a customer-driven bidding process that allows users to set compute market prices, with capacity delivered as turnkey, fully managed Kubernetes clusters.

"Rackspace SPOT offers a unique open market auction model that provides cost-effective cloud infrastructure solutions for small to medium enterprises, startups, digital companies, and developers,” said Lance Weaver, Rackspace Technology Chief Product and Technology Officer, Private Cloud Business Unit. “With high-availability Kubernetes clusters and market-based dynamic pricing, organizations can scale resources up or down as needed and obtain cloud infrastructure at the best possible price. The transparency of the auction process provides information to compare prices and choose the most cost-effective options."

Spot was co-developed by teams at Rackspace Technology and Platform9, the leading independent provider of SaaS-managed Kubernetes.

“We are pleased to contribute to Spot, a major innovation in the cloud computing market,” said Sirish Raghuram, Co-founder and Chief Growth Officer at Platform9. “Spot features several Platform9 innovations, such as a new centrally hosted Kubernetes control plane that lowers costs to customers. This allows users to deploy a fully managed Kubernetes cluster from as little as $0.72 per month, which is two orders of magnitude cheaper than comparable alternatives.”

Rackspace SPOT Key Features

• Kubernetes clusters suited for preemptible workloads.

• Kubernetes control plane built in with HA control plane option.

• Autoscaling Kubernetes clusters

• Available today in five global regions with thousands of servers

• Dynamic market pricing through bidding ensures the most competitive and up-to-date price.

• Developer-oriented Application Programming Interface (APIs) and Open Tofu/Terraform providers.

Rackspace SPOT Key Benefits

• Open market lowers prices.

• Bid for cloud servers from Rackspace's large cloud capacity inventory. Bids are fulfilled by an open market auction within minutes.

• Scalable and distributed solution for demanding workloads.

• The final cut-off price in the auction determines the market price for servers.

• Alerts for node pre-emption via Slack webbooks.