Alibaba Unveils Big Cloud Price Cuts as AI Rivalry Intensifies

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Alibaba Unveils Big Cloud Price Cuts as AI Rivalry Intensifies

Bloomberg2024-02-29

Alibaba Group Holding Ltd. is rolling out its second major cost cuts for cloud services in years, aiming to win back users from rivals like Tencent Holdings Ltd. competing to provide the tools ...

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The discounts span more than 100 product specifications, including data storage and elastic computing products that provide online processing power to clients, Alibaba executives said during a briefing.</p><p>The cuts mark one of the more aggressive moves by Alibaba to regain leadership from Tencent and Baidu Inc. in the cloud business, which is essential in the development of generative AI. The price cuts come after Alibaba called off a spin-off and IPO for the formerly fast-growing unit.</p><p>It’s now focusing on growing the public cloud — the domestic services arm aimed at enterprise customers. 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The discounts span more than 100 product specifications, including data storage and elastic computing products that provide online processing power to clients, Alibaba executives said during a briefing.The cuts mark one of the more aggressive moves by Alibaba to regain leadership from Tencent and Baidu Inc. in the cloud business, which is essential in the development of generative AI. The price cuts come after Alibaba called off a spin-off and IPO for the formerly fast-growing unit.It’s now focusing on growing the public cloud — the domestic services arm aimed at enterprise customers. 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