Alibaba Cloud announces steepest 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%, 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% in April.

The cloud service provider said it will lower prices of over 100 products by an average of 20%.