There are exchanges which offer that in crypto too - Deribit has colocation in Equinix LD4.
Rigged markets as a service!
The crypto/cloud equivalent is letting market makers connect directly to the exchange front end servers via AWS VPC peer or equivalent rather than going via the public load balancers.
We have the VPC thing for Gate but it's slower than the public thing.
And even in non-crypto it's not only about who is the fastest.