Again, anecdotes. I have public company quarterly statements - you have unsourced quotes. You can quote Geico - I can quote Netflix. If on prem was really growing, I wouldn’t expect Intel to be in the shitter and I would expect Capex to be focused on Colo centers not cloud.

Also when I searched for your quotation the very next paragraph was

“ This trend does not represent a rejection of cloud computing. Organizations continue investing heavily in cloud services, with Gartner forecasting that global cloud spending will reach approximately $723 billion by the end of 2025.”