Part of AMP (1) is a web component library grounded in the extensible web manifesto (2).
The plan was that the browser vendors give developers deeper access so that they could test new elements/standards through web components and polyfills.
The AMP component library is one example of this, and stories are one of their forms. So basically if you use their tags to structure your content, it creates a ig/sc style Web Story.
The structure that they have is (3):
Story -> Pages -> Layers -> Elements
Each page represents a tappable screen,
Layers occupy the full screen, stack and have layout defaults like fill or lower-third and
Elements can be regular html elements or other AMP components.