Alibaba Unveils Big Cloud Price Cuts as AI Rivalry Deepens

00:00

00:00/00:00

Listen to this article 1x

The cuts mark one of the more aggressive moves by Alibaba to stay ahead of Tencent and Baidu in the cloud business. Photo: Bloomberg

(Bloomberg) — Alibaba Group Holding Ltd. is rolling out its second major price cut for cloud services in years, aiming to win back users from rivals like Tencent Holdings Ltd. competing to provide the tools critical to training artificial intelligence (AI).

The Chinese internet pioneer will slash prices starting Thursday on scores of internet-based services by as much as 55%, and by 20% on average. The discounts span more than 100 products, including data storage and elastic computing options for online processing power, Alibaba executives told reporters in Beijing.