DigitalOcean has been mentioned; there are providers of rather cheap VMs. For example hetzner.com and ovh.com are rather popular in Europe, and then there's linode.

If you are fine with ARM hardware instead of the usual amd64, there are rather cheap and high-powered offerings in this space, for example https://www.scaleway.com/pricing/ (typically, the small VMs start around 1GB RAM and 1 core, whereas here you get 2GB RAM and 4 cores at a comparable price).