AWS Lambda lets you run code without provisioning or managing servers. You pay only for the compute time you consume - there is no charge when your code is not running.
With Lambda, you can run code for virtually any type of application or backend service - all with zero administration. Just upload your code and Lambda takes care of everything required to run and scale your code with high availability. You can set up your code to automatically trigger from other AWS services or call it directly from any web or mobile app.
AWS CloudFormation provides a common language for you to describe and provision all the infrastructure resources in your cloud environment. CloudFormation allows you to use a simple text file to model and provision, in an automated and secure manner, all the resources needed for your applications across all regions and accounts. This file serves as the single source of truth for your cloud environment.
AWS CloudFormation is available at no additional charge, and you pay only for the AWS resources needed to run your applications.