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VMware, Inc. (VMW)

Wells Fargo Technology Summit Conference Transcript

December 4, 2018 3:00 PM ET

Executives

Rangarajan Raghuram - Chief Operating Officer, Products and Cloud Services

Analysts

Scott Dillon - Wells Fargo & Company

Presentation

Operator

… Chief Operating Officer, Cloud Products and Service of VMware; and Scott Dillon, Chief Technology Officer of Wells Fargo & Company.

Scott Dillon

So the mics are working. Thank you for joining me. We are thrilled back you here. We are going to have about 35 minutes of dialogue and we are going to ask maybe 5 minutes to 10 minutes to the end and maybe save up some questions kind of hit it with us. One of the dream jobs that I have never had that I always wanted was Investor Relations.

Rangarajan Raghuram

Oh! There you go.

Scott Dillon

So I thought I’d read a statement for you all. So forward-looking statements to make sure we get the protocol done. Statements made in these discussions which are not statements of historical fact are forward-looking statements based upon current expectations. Actual results could differ materially from those projected due to a number of factors, including those referenced in VMware’s most recent SEC filings on Forms 10-Q, K and 8-K.

Scott Dillon

[Inaudible] So there’s a lot going on and you have got a very unique chair at VMware…

Rangarajan Raghuram

Yeah.

Scott Dillon

… and in the industry. So cloud is top of mind for everyone.

Rangarajan Raghuram

Yeah.

Scott Dillon

The journey is an interesting one.

Rangarajan Raghuram

Yeah.

Scott Dillon

We are in certain inning today but there’s a lot going on.

Rangarajan Raghuram

Yeah.

Scott Dillon

And maybe the next two years would love to share with this audience what it looks like from your chair.

Rangarajan Raghuram

Yeah. I think if you look back the last couple of years, I mean, five years, six years ago everybody said, okay, everybody’s moving, shift left to the cloud immediately and the tone of everything that we know about and then today it’s more of a moderate.

Two things have happened. One it’s more of a moderate position. People understand that there’s sort of workload that everyone live in corporate datacenters for lot s of different reasons. For a long time lots of applications will work great on the public cloud and so a hybrid is becoming the watchword and especially in the last year or so, that’s point number one.

And point number two is, customers are increasingly have the hyperscaler platforms all achieve maturity. Customers are choosing the different applications in different clouds. So multi-cloud or cross-cloud, whatever you want to call it had again become a very common theme, right. I would say that’s the future that at least our customers tell us that they will see a lot of.

And then, the notion of cloud is an architecture itself changes. It’s not just in the corporate data center. It’s not just in the cloud. But do you see the cloud architecture and the edge of the network as well. So we see this continuum of computing from cloud to data center and edge, all operating in the same cloud principles. So that’s what we see.

Scott Dillon

So I am going to pull a little bit on that specifically because you had also basically the full stack and the data center.

Rangarajan Raghuram

Yeah.

Scott Dillon

That you have a much changing, VMware, obviously, a long history on compute.

Rangarajan Raghuram

Yeah.

Scott Dillon

But there’s a lot going on in storage and networking to your point, that’s being driven by this. So again kind of how are you seeing those trends and where is it going and how is VMware thinking about that?

Rangarajan Raghuram

Yeah. So that’s been a very disruptive trend in the industry. We started off at the early stages of it. Back in 2009, 2010, we articulated this concept that we call the software defined datacenter. So the idea is that if you want to build your own private cloud or infrastructure as a service stack or a platform as a service stack in your data center, right. Like your company does and many others do. You need to have a more modern infrastructure underneath, that’s agile and that’s more programmatically controllable.

In order to do that, you have to rethinks not just compute, but you have to rethink storage and networking and we brought in the principles that we applied in compute virtualization to storage and to network, and that gave rise to modern hyperconverged infrastructure. With our vSAN product line and the software-defined networking with our NSX product line.

We have had a lot of success over the last four or five years. But those are also vastly under penetrated in the market, right. But if you look at storage, we have 17,000 customers using our vSAN product, which is good, but we have hundreds of thousands of customers using compute virtualization.

If you look at NSX, we have approaching 10,000 customers for our NSX product line. But then again there are hundreds of thousands of customers. So we are in the early innings. So there’s a lot of adoption that’s happening as customers recognize the benefits. That’s point number one.

Point number two, the technology is also dramatically changing, right. So in storage it’s not just enough to have hyperconverged, you need to have it connect to the cloud. You need to have a hybrid storage.

In networking similarly you can’t have a network that just operates from the data center. The software network has to extend to the edge and the software network has to extend to the cloud. It’s got to culminate not just VMs. It’s got to culminate containers and Kubernetes, and so on and so forth. And we introduced this idea of a virtual cloud network and those are the kind of things that we are working on.

Read the rest of this transcript on seekingalpha.com