Cloud computing – latest technology standard becoming very popular.It is very advantageous than grid computing and Utility computing.More over cloud computing has got attention due to cost and energy efficiency.
In this technology the software/hardware/infrastructure are shared in a single environment , so that companies need not spend much of its revenue in maintenance .
To know about the basics of cloud computing ,watch the video from salesforce.com
Much explanatory video – source
Some common web services that utilises cloud computing technology:
1.Google app Engine