"Serverless architecture" in cloud computing refers to a model where developers build and run applications without managing the underlying server infrastructure. This architecture allows developers to focus on writing code while the cloud provider automatically handles resource allocation, scaling, and operational tasks. Key components, such as functions as a service (FaaS), enable applications to run in response to events without worrying about server management. The benefits include cost-efficiency, as users pay only for actual compute time, and scalability, as the architecture can automatically adjust to user demands. Overall, serverless architecture simplifies deployment and enhances development speed.