Virtualization Explained video by IBM Technology discusses the enduring significance of virtualization in cloud computing. Virtualization is introduced as the creation of software-based versions of computing components, with emphasis on the pivotal role of hypervisors. The two main types are highlighted: Type 1, directly installed on physical servers, and Type 2, featuring a host OS layer.

The video emphasizes key benefits, including cost savings through infrastructure consolidation, enhanced agility in virtual machine (VM) deployment, and reduced downtime facilitated by quick VM migration. The narrator underscores the independence of VMs, allowing diverse operating systems and seamless portability.

The video concludes by underlining virtualization's ongoing importance in contemporary cloud strategies. In a concise duration, it offers a clear overview for viewers seeking foundational knowledge on virtualization.