Spot Instances are spare Amazon EC2 instances that are available at up to 90% discount compared to On-Demand prices. They are suitable for workloads that can tolerate interruptions, such as batch processing, data analysis, and testing. Spot Instances are allocated based on the current supply and demand, and can be reclaimed by AWS with a two-minute notice when the demand exceeds the supply5. Convertible Reserved Instances are a type of Reserved Instances that provide a significant discount (up to 54%) compared to On-Demand prices and a capacity reservation for Amazon EC2 instances. They are available in 1-year or 3-year terms and allow users to change the instance family, size, operating system, or tenancy during the term. Standard Reserved Instances are another type of Reserved Instances that provide a larger discount (up to 75%) compared to On-Demand prices and a capacity reservation for Amazon EC2 instances. They are available in 1-year or 3-year terms and do not allow users to change the instance attributes during the term. Dedicated Hosts are physical servers with Amazon EC2 instance capacity fully dedicated to the user’s use. They are suitable for users who have specific server-bound software licenses or compliance requirements.