Until bits get magically transported from one CPU to the next, however you provide your services is at risk of having their connectivity removed, whether that's cloud or on-prem.
If your service is mission critical, you should have it in multiple regions and availability zones - each which has multiple independent power, cooling and backhaul and be physically separated - and design your applications and data storage around not relying on any one region/AZ being up.
"Cloud" is more than running your programs on other people's computers.