One template for everything soon hits limits: 500 resources, one team's release pace, one blast radius. You can split infrastructure four ways, from loose to tight: stacks that share values through exports, a parent that deploys child stacks, registered modules expanded into one stack, and StackSets that stamp one template across accounts and regions. LocalStack 4.13.1 63,725 runs the first two, part of the last, and not modules.
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Cross-Stack and Nested
Cross-Stack References, Nested Stacks and StackSets