Google App Engine. Write applications in Python using a WSGI-compatible application framework, then host them on Google’s highly scalable infrastructure.(via Simon Willison's Links)
"Holy s**t" was Ryan Tomayko's comment, and my first thought as well. Google is realising the promises of WSGI, and what a sight it is.
On one hand, this is fantastic; it made me think of "J2EE done right". On the other hand, if you use GAE, you are handing your entire infrastructure and data (!) over to Google, which might not be the smartest move for lots of companies (any FTSE100 for example, and probably any NASDAQ-listed as well).
Anyway, Python rocks.