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recently, Intel, Yahoo, HP, and an international trio of research institutions announced a joint cloud-computing research initiative. The ambitious six-site project is aimed at developing an Internet-based computer infrastructure stable enough to host companies' most critical data-processing tasks. The project also holds an unusual promise for advances in fields as diverse as climate change modeling and molecular biology.

The new array of six linked data centers, one operated by each project sponsor, will be one of the largest experiments to date focusing on cloud computing--an umbrella term for moving complex computing tasks, such as data processing and storage, into a network-connected "cloud" of external data centers, which might perform similar tasks for multiple customers.

Source: http://www.technologyreview.com/Infotech/21180/?a=f