Alibaba Cloud, the cloud computing arm of China’s e-commerce giant Alibaba Group Holding, unveiled its plans on Monday to significantly slash prices for a range of products hosted in its offshore data centers.
This strategic move comes amidst intensifying competition within the market to entice artificial intelligence software developers.
The announcement encompasses a substantial reduction of up to 59% in prices for various services including computing, storage, networking, database management, and big data solutions. On average, these adjustments translate to a noteworthy 23% decrease across the board.
This initiative marks the third instance in the past year in which Alibaba Cloud has opted to reduce its pricing structures, reflecting a dynamic response to evolving market dynamics. Notably, in February, the company introduced a similar cost-cutting program tailored towards its domestic clientele.
Alibaba’s decision to implement these price reductions underscores its concerted efforts to attract developers and enterprises interested in leveraging cloud-based resources for the creation of data-intensive AI models and applications.
By making its cloud services more financially accessible, Alibaba aims to position itself as a preferred partner for innovators seeking scalable and cost-effective solutions in the burgeoning field of artificial intelligence.
