AMP (or Accelerated Mobile Pages) is an open source project that creates a new standard for how web pages work. The pages, built using a subset of HTML, with little CSS and almost no Javascript, are well-suited for non-interactive content, such as news, e-commerce, blogs, etc.
The world's leading press publishers have adapted AMP and Google and Bing favor pages published with AMP.
You can learn more about the project on its official website at https://www.ampproject.org/.
There are some criticisms about how AMP favors Google as a cache on the Internet. You can read more on Tim Kadlec's blog: https://timkadlec.com/2015/10/amp-and-incentives/ (the comments are also good).
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