Earlier this year Google announced that they are looking to launch a new product called AMP Landing pages. Recently they made an official announcement that they have started rolling out this new feature in Adwords and advertisers will see this option in less than 2 weeks.
AMP landing pages can only be used for mobile search ads. The benefit of AMP landing page is that they load instantly as compared to normal mobile friendly landing pages. Example is shared below:
Currently, caching is only supported in Chrome but soon it will be available on all browsers, however no specific date was given. Since Google have already rolled out this feature for select clients, those who have used it have seen significant increase in their conversion rates and drop in bounce rates.
Since it is a new feature, it is not bug-free. There are certain issues with current AMP landing pages, one of them is identifying visits among AMP and non-AMP landing pages.