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This is also what we did at my company.

We kept most smaller-scale, stateless services in AWS but migrated databases and high-scale / high-performance services to bare metal servers.

Backups are stored in S3 so we still benefit from their availability.

Performance is much higher thanks to physically attached SSDs and DDR5 on-die RAM.

Costs are drastically lower and for much larger server sizes which means we are no getting stressed about eventually needing to scale up our RDS / EC2 costs.



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