You know a tech market is hot when the price wars begin. Right now, nothing's hotter than cloud computing -- and both (NASDAQ:AMZN) and Google (NASDAQ:GOOGL) want an unfair share of the proceeds.

According to TechCrunch, the two are engaged in a back-and-forth battle to see who can host your cloud data for the cheapest price. First, Google cut prices on its Cloud Storage product by 20%. Amazon responded by cutting prices on its own storage service, S3, by 25%. Google responded with another 10% cut. Point, meet counterpoint.

What's interesting here isn't the war itself but what it says about each business. In its excess discounting, Google has revealed just how important data is to the underlying business. Get the rest of the story in the following video.

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