Public or private
Microsoft Azure cloud
The Azure Cloud platform is operated by Microsoft directly and can be used, for example, to implement Dynamics 365 for Finance & Operations ERP using the SaaS model at a pair of sites in a given region (a public cloud must be used for D365 run under SaaS on Azure).
You can also deploy dedicated servers (IaaS) that will be provisioned within the space of a few hours. Note that for IaaS, the SAP S/4HANA ERP requires specific hardware architecture with SAP-certified servers.
The beauty of the Azure platform is that it simplifies your access to more than 200 Microsoft solutions, including application development, AI, data analytics, and many more. It also offers guaranteed high levels of security (you can make your cloud on Azure private through VPN access, for example).
Lastly, as such clouds are international platforms belonging to an American corporation, special attention has to be paid to matters of compliance (Cloud Act, Privacy Shield, etc.).