OpenStack, despite being a 4-year old project, is still in the relatively early days. Its impact thus far seems to mostly be on service providers like Rackspace, HP and others who are using the open source code to build public clouds. But, the project is continuing to mature and many companies, like Red Hat and others, are looking to sell software for companies to build private clouds themselves using OpenStack. It's unclear exactly how the project will develop and how many end users will sign on to use OpenStack and for what purposes. In some scenarios OpenStack could be a major threat for VMware, in others it could be a complementary technology.
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