While “shared” means that multiple customers share the resources of a server, “dedicated” in this context refers to exclusive server resources. These are available to only one customer, so that only the customer’s own projects run on this server.
A Dedicated Server is also called a Bare Metal Server. It is used for multiple permanently operated services and not for everyday tasks. The Dedicated Server is exclusively available to a user for their application purposes (for example, virtualization). For very performance-intensive applications, multiple Dedicated Servers can be combined into a cluster and operated as a single logical unit.