Google AMP or Google Accelerated Mobile Page service will be officially launched on 24th February 2016. Google AMP is a similar service to Facebook Instant Articles and Apple's News. But the Great thing is Google AMP is open source.

According to Google AMP pages loads 85% faster than standard moble pages. Publishers like Wall Street Journal, BuzzFeed and Washington Post hope to unveil AMP ready sites by next week. However AMP will not allow many revenue streams like  Interstitial ads and script based widgets like suggesting similar contents to read, Videos to watch before reading the actual content etc.

Google Search results will start displaying AMP sites from next week. This doen't mean Google Search favors AMP sites and adopting to AMP sites will give a significant search rank. Your content should meet all other requirements that are needed to rank top in Google Search results. If an AMP page and a standard mobile page scores equally in other requirements for the same topic on Google Search results, and there's a chance for the AMP page to win depending on the page loading speed. Because page loading speed is also a criticle factor that readers consider.