Sources at GigaOm state that Google will be releasing their own IaaS (infrastructure as a service) cloud solution next week at Google I/O. This move would extend their current cloud services, like app engine, cloud connect, and storage, and allow users to rent virtual servers from the folks in Mountain View, bringing them in close competition with cloud giant Amazon.

In this scenario, two things come right to the front of our minds -- ChromeOS and Google Docs (Drive). Both services could be great front-ends for a cloud infrastructure that's set up by the user, especially in the enterprise. Imagine a corporate portal that you connect to as soon as you fire up your Chromebook, and your own IT department manages it all. Then imagine you can also connect with your Android phone. This could be a really big deal™.

Of course, for now it's just a rumor and we're speculating on how it could be used. But we'll know in a scant five days or so, as Phil, Alex, and myself will be front and center at Google I/O basking in all the Googly news. This year's I/O looks to be huge!