This document is a report submitted by Aman Raj and Sandeep Kumar to their professor Manas Sir in the computer science department. It discusses cloud computing, defining it as using computing resources over a network as a service and separating applications from the operating system. It also outlines the philosophy of cloud computing turning IT into a utility, discusses privacy and security issues, and describes public, private and hybrid cloud models. Major cloud service providers are identified as Amazon, Google, Yahoo, IBM and Microsoft.