1. Cisco systems plans to enter Cloud computing services market, ready to spend $1 billion over the next two years. The cloud services market is currently led by Amazon web services.

2. Cisco will spend the amount to build data centers to run its new Services called “Cisco Cloud Services”, The WSJ reported.

3. “Everybody is realizing the cloud can be a vehicle for achieving better economics and lower cost,” said, Rob Lloyd, Cisco’s president of development and sales.

4. The company plans to discuss about their new “Cisco cloud services” on Monday at a conference with their customers. The WSJ said.

5. Already, current Cloud giants are conducting conferences this whole week: 1. Google cloud platform conference (March 25th), AWS summit (March 26th), Microsoft Conference about connecting mobile and Cloud (March 27th). This week becomes hottest cloud week of 2014.