A rare giant squid being eaten by an 8-foot shark off the Australian coast has been caught on video and spread around the Web today.

The squid measures nearly 10 feet as it is filmed floating alongside a fishing boat, where a columnist from Australia's Daily Telegraph spotted it.

The bright red squid had already been partially eaten, likely by its only known predator, a sperm whale, according to columnist Al McGlashan.

"It must have died not that long before we found it because it didn't smell at all and its colors were still strong - most giant squid remains are smelly and rotten and just off-white by the time someone finds them," McGlashan said in the newspaper.

The video of the encounter shows a blue shark swimming up and taking a bite out of the side of the squid as it lingers next to the boat.