OpenStack is an open-source cloud operating system designed for private and public clouds, enabling users to deploy virtual machines and manage compute environments easily. Founded in 2010, it features 30,000 users, over 540 supporting companies, and is primarily written in Python under the Apache 2.0 license. Key components include Nova for computing, Swift for storage, and Neutron for networking, with notable users including Walmart, PayPal, and Disney.