Cloud applications are deployed in remote data centers (DCs) where high capacity servers and storage systems are located. A fast growth of demand for cloud based services results into establishment of enormous data centers consuming high amount of electrical power. Cloud computing relies on sharing of resources to achieve coherence and economies of scale, similar to a public utility Cloud computing involves virtualization, distributing computing, platform, infrastructure, software &web based services. Load balancing is challenging issues in cloud environment. It is the process of distribution of the load among various nodes of distributed system so that the better utilization of resources while also avoiding the situation where some nodes are overloaded and some nodes are idle or under loaded. Many algorithm were suggested to provide the better utilization of resources on the basis of On-Demand services. All algorithm enhance the overall performance of the cloud. In this paper we investigated the various algorithm that are based on Ant Colony Optimization (ACO) aimed the load balancing of nodes. We discuss and compare the ACO algorithm to provide the overview of latest algorithm in cloud computing environment.