Amazon creates cloud computing spot market | Between the Lines | ZDNet.com

Amazon CTO Werner Vogels said on his blog:

The central concept in this new option is that of the Spot Price, which we determine based on current supply and demand and will fluctuate periodically…This gives customers exact control over the maximum cost they are incurring for their workloads, and often will provide them with substantial savings. It is important to note that customers will pay only the existing Spot Price; the maximum price just specifies how much a customer is willing to pay for capacity as the Spot Price changes.

via Amazon creates cloud computing spot market | Between the Lines | ZDNet.com.

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