You mean serving inference? There are people who think self-hosted or embedded models will win in the end, but that's an incredibly naive take, oblivious to the simple fact of reality:

Whatever you can do locally, the big vendors can do the same but better and cheaper, because they enjoy compounding economies of scale in every aspect: hardware that's more energy and compute-efficient and cheaper and more powerful and just more of it, than anything you could ever buy, run in a more robust environment with much more experienced ops staff, with near-100% utilization due to more flexibility in batching/shifting workloads and covering for hardware failures without stopping.

And that's only when considering the vendors running exactly the same thing you are, which they always can - and they already have a strict advantage there. But on top of that, they can afford to innovate themselves, and stay ahead of you at every step.

There is no way in which cloud inference isn't a better deal than local inference, excepting applications that are constrained by literal speed of light.