That's a real thing for game consoles. The PS5 has 16GB of RAM, which is directly accessable by the CPUs, GPU, and SSD controller. So you can load an asset directly from SSD to GPU memory without a recopy. In a PC, you'd have copies from disk to disk drive cache to OS memory to user space to GPU memory. Also, in a console, where you know exactly what the hardware configuration is, you can store the assets in exactly the form the GPU wants.

This has nothing to do with "cloud", though.