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Today Google Cloud Platform live streamed a bunch of really exciting news. It’s going to increase pressure on all the big cloud players. I’ve been a firm believer in Amazon Web Services for a very long time, but some solid competition will be good for the marketplace.

Here are a couple of key points about how the Google cloud platform reduces pricing :

– Compute Engine pricing is reduced by 32% across all sizes, regions, and classes

– App Engine pricing is being simplified and reduced by 37.5%, dedicated memcache is being reduced by 50% and datastore writes by 33%

– Cloud Storage pricing is being reduced to 2.6 cents per GB. That’s 68%

– BigQuery pricing is being reduced 85%

On top of all that they’ve reduced the pricing on the Sustained-Use discounts up to an additional 30%.

Even if you don’t understand all of the various terms, or what exactly is being reduced. I think it goes without saying that the lower cost for cloud resources is going to increase the amount of start ups that can utilize cloud resources.

Not to mention that I don’t think Amazon is going to take this sitting down. AWS has an event today that I think will drastically reduce pricing as well. This is shaping up to be a quite a year for cloud computing. Check out the article on Google’s Blog Here.