The joint effort is OpenStack. It's an open source cloud computing project. It's comprised of code donated by Rackspace and Nasa. Cloud files from Rackspace will become the OpenStack Object Storage. Nasa's Nebula cloud platform and Rackspace's Cloud Servers will create the compute-provisioning engine called OpenStack Compute.
"We are founding the OpenStack initiative to help drive industry standards, prevent vendor lock-in and generally increase the velocity of innovation in cloud technologies," said Rackspace Chief Strategy Officer Lew Moorman.