Alibaba Cloud announces steep price cut in race for AI customers

Hong Kong/Shanghai: China’s Alibaba Cloud on Thursday said it will slash prices of some of its products by as much as 55 per cent, its most severe price cut to date, amid intensifying competition to attract heavy users, particularly artificial intelligence software developers.

This would be the second time the cloud arm of Chinese e-commerce leader Alibaba Group Holding has cut prices in less than a year after reductions of as much as 50 per cent in April.

The cloud service provider said it would lower prices of over 100 products by an average of 20 per cent.