https://www.theregister.co.uk/2018/04/05/aws_drops_s3_storage_costs/

AWS is letting punters store objects in S3 for $0.01 per GB per month. The catch? The data will be held in one availability zone, meaning there is less resiliency baked into the service in the event of an outage.

Users' object storage data is kept in virtual repositories called S3 buckets. These are physically stored in AWS data centres in a small geographic area called an Availability Zone.