AMP stands for Accelerated Mobile Pages. AMP is a framework developed by Google that prioritizes page speed. The framework is designed to have pages load in under 1 second, giving the user a much more satisfying experience when viewing from a mobile phone.
Pages built with AMP are cached in Google search results, making them load nearly instantly on a mobile device. AMP pages also receive a lightning bolt "AMP Badge" within their search result snippet. Mobile users are more likely to find your AMP pages at the top of search results, and they are more likely to click a page with an AMP badge.