There are signs pointing to an imminent release of Google Drive, the cloud storage service that Google has been talking about for a while. There have been rumors and rumblings that Google would launch the service soon, and now we have a hint from Google themselves. Earlier today they bumped the quota of Google Docs storage from 1GB to 5GB, which has been rumored to be the initial amount of their "free" tier for Google Drive. Additional industry intel suggests that Google Drive will have several increments and various prices up to 100GB of cloud storage, or possibly more. Here's a quote with some more details,

Additional pricing still remains at $0.25/GB, but this could change with the official announcement. Google Drive is expected to launch with desktop and Android sync clients and enhance the Google Docs experience, giving the likes of Dropbox, Box, and other cloud syncing services a run for their money.
It's possible we will see it announced as early as today, although it could simply come later this week. It will be interesting to see how competitively/aggressively Google prices their new service to compete with the folks that are already doing it like Dropbox and Box.

Source: AndroidPolice