PRICE ALIBABA'S PRUNE : PRECIS

 

Rising Competition : Alibaba Cloud announces price cut : China's Alibaba Cloud on Monday said it will cut prices for products that are powered by its offshore data centres by as much as 59% amid rising competition to attract Artificial Intelligence software developers.

The cloud service provider said products related to computing, storage, network, database and big data will receive an average of 23% price reduction.

This is the third time the cloud arm of Chinese e-commerce leader Alibaba Group Holding has moved to cut prices over the last 12 months.

In February, Alibaba had already announced a similar price cut programme aimed at domestic users. The price cuts mark Alibaba's latest effort to lure developers to build data-intensive AI models. [ Reuters ]