Alibaba Cloud to cut prices for products hosted in offshore data centres

Alibaba Cloud price cut: Alibaba Cloud, a cloud service provider, has revealed plans to slash prices for products hosted in its offshore data centres, addressing the escalating competition in attracting artificial intelligence (AI) software developers.

The announcement, made on Monday, entails significant price reductions of up to 59 per cent on various products, including those related to computing, storage, network, database, and big data. On average, these reductions will amount to 23 per cent.

The initiative marks the third instance within the past year that Alibaba Cloud, the cloud division of Alibaba Group Holding, has implemented price cuts. Notably, in February, a similar price reduction scheme was announced, targeting domestic users.

Alibaba's decision to lower prices aims at enticing developers into leveraging its cloud services for building data-intensive AI models and applications.

This move aligns with Alibaba Cloud's broader objective of maintaining its competitive edge and encouraging innovation within the rapidly evolving cloud computing landscape.

(With Reuters inputs)