AWS Fargate is a serverless container platform that allows users to run containers without managing the underlying infrastructure. It supports both Amazon Elastic Container Service (ECS) and Amazon Elastic Kubernetes Service (EKS). Fargate enables users to focus on delivering business value instead of capacity planning and operational issues. Monitoring Fargate clusters can help understand the performance of containerized applications and manage costs, as pricing is based on usage. Key metrics to monitor include memory utilization, CPU utilization, cluster state metrics, and other application-specific metrics.