Yes, definitely, that is a very common use case:
Amazon Web Services (AWS) publishes many Amazon Machine Images (AMIs)
that contain common software configurations for public use. In
addition, the AWS developer community has published many custom AMIs.
You can also create your own custom AMIs so that you can quickly and
easily start new instances that have everything you need for your
application. For example, if your application is a website or a web
service, your AMI could include a web server, the associated static
content, and the code for the dynamic pages. After you launch an
instance with this AMI, your application is running and ready to
accept requests.
https://s3.amazonaws.com/cloudformation-examples/BoostrappingApplicationsWithAWSCloudFormation.pdf