NEW YORK (TheStreet) — The enterprise is shifting. What we’ve come to know as network and application infrastructure is transitioning towards the private cloud. Very few understand this better than Red Hat’s (RHT_) CEO Jim Whitehurst, who’s positioning his company to become the leader in OpenStack.
He wants Red Hat to be able to offer cloud solutions that are scalable, feature-rich, yet easy to implement. Even better, he believes he can offer these services at a fraction of the cost enterprises are paying today. At around $61, Red Hat’s shares are up 9.4% for the year to date, surpassing the S&P 500, which is up 8.3% for the same period.