The "cloud" as we know it rely heavily on CPU's hardware security and their virtualization technologies to enable untrusted computation from users.
CPU security is actually one of the few topic Intel is extremely good at (don't trust the RISC/CISC flamewar) and could define the way cloud providers are built upon.
SGX in particular had revolutionary potential.. Galen Hunt's Haven project showed remotely-attested, encrypted Drawbridge containers executing arbitrary Windows programs within secure enclaves... But then Meltdown and Spectre doomed SGX to side-channel attack. I don't think Intel is even making an attempt to salvage the instruction set...
What do you mean with salvaging the instruction set? Since I wouldn't count SGX a part of the instruction set and spectre/meltdown are not IA specific.