If you have set up RDS as your DB solution, you can set up remote repositories referencing content/artifacts hosted on S3.
In versions of Artifactory prior to 3.6, we typically find that S3 is not suitable for Artifactory's needs, requiring retries for file uploads at times, so this is something to consider.
After version 3.6, this is fully supported, see our documentation here.
If you are interested in having Artifactory itself hosted on a cloud environment, you might want to take a look at Artifactory Cloud.