Like many developers, what I loved about Java was it's platform agnostic nature. While I love the idea of cloud computing, there seems to be the threat within the movement of having to go back to platform specific code, i.e. what I write for one cloud doesn't run in another. Say it ain't so or that our beloved JVM devs are working on this? :-) ...or perhaps it's a mod to JEE or app servers rather than the JVM? This would keep the JVM running closer to the hardware....
"the cloud" (buzzword alert) isn't something that is you can relate to the JVM. You'd find it more in the JEE corner and I do believe that some form of standardization for cloud computing is in the works for the JEE7 specification. I read about it in one of the online Java magazines, but several blogs also cover it. A Google search turned up this one for example: