Yes, doing labs offered by cloud platforms helps you understand the concepts of cloud infrastructure, software as a service, and so on. It also helps you to learn how to design, plan, and scale the AWS platform as per best practices. Actually, doing hands-on projects helps you understand the concepts deeply.
For that, I can suggest aws certification course offered by Intellipaat where the course is completely oriented toward practical industry applications and helps you improve your knowledge.
Before that do check out this video on how Shivhari Ananta Lokhande got benefited from hands-on training at Intellipaat -