OpenStack is an open-source cloud computing platform that provides common services for both public and private clouds. It was launched in 2010 by Rackspace and NASA as a joint project. OpenStack provides APIs and tools to provision resources like compute, storage, and networking. It allows building clouds on top of heterogeneous data center hardware. Customers choose OpenStack because it is open source, low cost, customizable, has community support, and is compatible with AWS APIs. Major companies like BMW, Disney, and Walmart use OpenStack in production environments.