(Old Model) Bid a price. Highest bidder wins
(New Model) Quote your maximum price. Prices decided by long term trends.
Up to 90% off (compared to On-Demand)
Can be terminated with a 2 minute notice
Ideal for Non time-critical workloads that can tolerate interruptions (faulttolerant)
A batch program that does not have a strict deadline AND can be stopped at short notice and
re-started
Variations:
Spot Block: Request Spot instances for specific duration (1 or 2 .. or 6 hrs)
Spot Fleet: Request multiple spot instances across a range of instance types
More instance types => better chances of fulfilling your spot request