Amazon EC2 gets a spot market
Customers can bid on unused Elastic Compute Cloud capacity and run those instances as long as their bid exceeds the spot price.
Amazon on Monday rolled out spot pricing for cloud computing so customers can buy capacity at any price on the open market.
The concept is an interesting one since Amazon Web Services is making computing capacity available on the market just like any other commodity (see Amazon statement, Werner Vogels, and Amazon Web Services blog).
Dubbed Spot Instances, Amazon customers can bid on unused Elastic Compute Cloud (EC2) capacity and run those instances as long as their bid exceeds the spot price. The rub is that you can be outbid.
Read more of "Amazon creates cloud computing spot market at ZDNet's Between the Lines.