AWS Lambda Managed Instances: Serverless Simplicity with EC2 Flexibility

Still $0.20/million requests, but all Lambda functions run on provisioned EC2 instances (taking into account savings plans & reservations) with a 15% premium.

You can dial up/down the vCPU:RAM ratio so that if you have a lot of functions that just, for example, wait on IO, you can use a very high ratio to run many more functions in parallel on a single instance.

This looks like it will provide an interesting middle-cost option for services at scale with a more predictable load or usage pattern better suited to higher (or lower I guess) ratios without having to sacrifice any effort already put into Lambda and lets you still use it with other AWS services (Cognito auth, IoT Events, simplified Kinesis/DynamoDB Streams client that doesn't require Java, etc).

It will be interesting to experiment with.