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Publication Date: 2026-09-08 07:00:00
On Tuesday, 08 September 2026, Nutanix (NTNX) used the Goldman Sachs Communacopia + Technology Conference 2026 to outline a broader strategy that reaches well beyond its roots in hyperconverged infrastructure. Chief Executive Rajiv Ramaswami and Chief Financial Officer Rukmini Sivaraman said the company is seeing momentum in external storage, public cloud, Kubernetes, databases and artificial intelligence, even as higher hardware costs and supply chain constraints weigh on the near-term outlook. The market has responded favorably to the company’s transformation, with shares delivering a 69% return over the past six months. With a market capitalization of $18.2 billion and 13 analysts revising earnings upward for the upcoming period, according to InvestingPro data, investor confidence in the strategic pivot appears strong.
The message was mixed but constructive: Nutanix is expanding its platform and customer reach, while also preparing for a tougher procurement environment in fiscal 2027. Management said it still expects margin expansion and sees a path to more than 30% operating margins over time.
Key Takeaways
- Nutanix said it is now a broader cloud platform company, not just an HCI vendor.
- External storage is emerging as the fastest near-term growth driver, with multiple seven-figure wins in the latest quarter.
- FY 2027 will face a supply chain headwind as server prices remain far above last year’s levels.
- The company sees long-run growth from VMware migration,…
