First, accelerated mobile page or AMP, is a project from Google and Twitter designed to make fast mobile pages.
That is because, at its essence. It’s basically a stripped-down form of HTML, a diet HTML if you will.
Second, Google reports that AMP pages served in Google search typically load in less than one second.
Further it uses 10 times less data than the equivalent non-AMP pages.
Finally the idea is that the whole platform is designed just for pure readability, pure speed.
Because it helps web pages load faster which potentially improves usability and convinces visitors to stay longer on your site engaging with your content. The logic is straightforward: faster load time leads to better engagement, which reduces bounce rate and improves mobile ranking.
All of this is designed to be really heavily cached so that Google can host the pages. As in hosting your actual content right there.
So with an accelerated mobile page or AMP Google does not even need to fetch it from your server anymore.