Are you running simulation on Cloud ??

I've been with 3 companies, and all of them have on-premise server to run the CAD tools (Cadence, Synopsis).

I'm wondering are any companies out there running simulation on Cloud, particularly elastic compute where the compute machine can scale up/down depending on the usage (similar to Serverless). Does it make sense to run this way? And are there any company running it this way?

Running on Cloud with Elastic Compute should cost less than having a dedicate on-premise server because in the project lifecycle there will be heavy simulation near the end while in the beginning of the project designer just run a small simulation.