I use cloud...
...to refer to the internet as a whole. (Sorry, just an old fart from back in the day where "cloud" was a fuzzy representation for "the wide wolly tubular interwebs") Dang you young whippersnappers and your reassignment of words!
Internally we might refer to an individual box as a "virtual server," but most often it's simply called a "chunk of metal." I don't recall ever actually using the terms "cloud" or "grid" to refer to our infrastructure...we just use "capacity."
"Check the capacity in that DC." "I'm got two VMs ready to go, I'm going to throw it at whatever capacity we have over there." "Okay, I've got a new DC built, which chunk of metal do I toss it on?"
Talking about VS capacity as a "cloud" just complicates my old-fashioned mind. To me, the cloud is always on the other side of my edge router.