Google Compute Engine provides an Infrastructure-as-a-Service product enabling you to run your own Linux Virtual Machines on the same infrastructure that Google uses for their web services.
Google highlighted the offerings of this new platform:
Scale. At Google we tackle huge computing tasks all the time, like indexing the web, or handling billions of search queries a day. Using Google’s data centers, Google Compute Engine reduces the time to scale up for tasks that require large amounts of computing power. You can launch enormous compute clusters - tens of thousands of cores or more.
Performance. Many of you have learned to live with erratic performance in the cloud. We have built our systems to offer strong and consistent performance even at massive scale. For example, we have sophisticated network connections that ensure consistency. Even in a shared cloud you don’t see interruptions; you can tune your app and rely on it not degrading.
Value. Computing in the cloud is getting even more appealing from a cost perspective. The economy of scale and efficiency of our data centers allows Google Compute Engine to give you 50% more compute for your money than with other leading cloud providers.