The AMP Project is a collaborative effort supported by companies like Google and Twitter to make the web faster. It enables the creation of fast websites and ads that are consistently fast and high-performing across mobile devices and distribution platforms.
For instance – It enables Google AMP Cache to host the content of AMP enabled websites, these cached web pages open instantly when a user taps them from search results.
As for now reading on the web is sometimes slow for some users, this also depends on their geographic location and the speed of internet connection. Hence sometimes content rich pages take several seconds to load despite all efforts taken by webmasters to speed up their websites.