Remotely. I need this dump to upload it in a new instance in the cloud.
There is essentially no limit on dump size. Be aware that the dump, if materialized on disk, may be noticeably bigger (or smaller) than the disk footprint on the old_server.
If you can run a command on the new instance, then this would be optimal for a 'logical' dump:
mysqldump -h old_instance ... | mysql
That avoids the extra time and CPU for zipping/unzipping at the cost of extra network time. (YMMV.) And it avoids writing the 140GB to disk.
If you cannot run a script on the new instance but can run mysqldump on a third server (your laptop?), then do something like this on it:
mysqldump -h old_server ... | mysql -h new_server ...
This requires no shell access to either remote server, but does depend on network bandwidth in both directions to the third_server.