Hewlett Packard is set to move in to the cloud computing market. The new tool will put HP in competition with Amazon as well as other businesses.

HP planned to launch the public cloud service May 10th and will incorporate a variety of computing tasks. The service will also include software tools that businesses and other companies can use to build and run programs, and even transfer programs from to HP's data centres.

The move is part of CEO Meg Whitman’s strategy to take advantage of the cloud computing trend, as businesses and consumers are increasingly storing and accessing data and services over the Internet.

“The market for public cloud is large and will continue to grow,” Hewlett-Packard Chief Strategy Officer Bill Veghte said in a telephone interview with Bloomberg.