Nutanix makes enterprise infrastructure software. Its core product is the Nutanix Cloud Platform, which lets organizations run applications and manage data across on-premises data centers, edge locations, and public clouds from a single software layer. The original foundation of the business is hyperconverged infrastructure (HCI) — software that pools compute, storage, and networking from commodity servers, replacing traditional architectures that require separate hardware for each. Nutanix has expanded this into a broader platform that includes its own hypervisor (AHV), cloud cost management and automation tools, a Kubernetes platform for containerized workloads, software-defined storage, and an on-prem generative AI inferencing product. Nutanix sells to large enterprises across financial services, healthcare, government, manufacturing, and retail, primarily through channel partners and OEM relationships with Cisco, Dell, HPE, Lenovo, and Fujitsu. Nutanix operates as a subscription software business, selling term-based licenses (typically 1–5 years) that include support and upgrade rights. License revenue is recognized upfront, while support revenue is recognized ratably over the term. This structure allows Nutanix to collect multiple years of cash at contract signing, generating strong free cash flow. Nutanix grows through a land-and-expand model — customers typically start with one workload and expand to additional workloads and platform products over time. A key near-term growth driver is displacing VMware, where Broadcom's pricing changes have pushed many enterprises to evaluate alternatives.