Both. I'm not a big fan of the term hybrid given the past use of it to describe cloud services. I think of it more like managed SaaS services, where a customer

Both. I'm not a big fan of the term hybrid given the past use of it to describe cloud services. I think of it more like managed SaaS services, where a customer might buy software licensing by the month and run it just on-prem, on-prem and hosted, or just hosted. I can also see a third option where there's an MSP like entity running code on your hosted infrastructure, but licensing software both on-prem (running on your stuff) and then bits running in the cloud as a solution to burst-based problems. AI services will definitely manifest this way.