The document discusses emerging trends in cloud computing, including the introduction of cloud of clouds or intercloud models, increased adoption of OpenStack and platforms-as-a-service, and the growth of big data as a service. It also covers how cloud computing will play a bigger role in mobile/social applications, the internet of things, hybrid cloud models, and more software-defined infrastructure. Major tech companies like IBM, Microsoft, Amazon, and Google are expected to invest over $1 billion annually in their global cloud networks.