Nutanix Investor Day: Agent AI Stack, NetApp/Lenovo Storage Deals, and FY2029 40+ Target Rule

Full Agent AI Stack: Nutanix introduced a complete “Agentic AI” solution, spanning AI services, Kubernetes, GPU and infrastructure optimization, low-latency database, and multi-tenant management, positioning the company to focus on hybrid inference and service provider multi-tenant GPU deployments.

External storage associations: New support for NetApp and a partnership with Lenovo expands Nutanix’s addressable private cloud market from about 35% (HCI only) to ~45% this year, and management forecasts ~60% by fiscal 2029 as more external platforms and adoption of IP-based storage grow.

Fiscal Year 2029 Financial Goals: Management is targeting mid-to-high revenue/ARR growth, non-GAAP operating margins in the mid-to-high 20s, free cash flow margins in the high 20s, and a Rule of 40 outcome in the low to mid-40s under “normalized” assumptions for fiscal 2029.

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