mikejuk (1801200) writes "Google's Compute Engine is the first credible alternative to Amazon's AWS. Until today the cloud was Amazon — now at last it's a two-horse race (or more).
The announcement includes the line:
"...allows Google Compute Engine to give you 50% more compute for your money than with other leading cloud providers"
And we know who "other leading cloud providers" are! A full price table is available and from this, for example, a single core image with 3.75GB and 420Gbytes of storage is $0.145 per hour, which is a lot more power than the same rate would buy at AWS."