The document discusses Network Functions Virtualization (NFV) and OpenStack. It provides an overview of NFV, describing what NFV is and its key benefits. It also summarizes the work completed in Phase 1 of the ETSI NFV Industry Specification Group, including published documents on NFV architecture, interfaces, and requirements. The document then presents examples of NFV proofs-of-concept involving virtualized network functions and orchestration using OpenStack. It concludes with a discussion of requirements for integrating NFV and OpenStack, such as support for multiple hypervisors, hardware acceleration, and security.