Apr 09, 2024 04:15 AM
BUSINESS
Alibaba Slashes Cloud Prices Globally as AI Demand Increases
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Alibaba slashed prices on Monday by an average of 23% for around 500 cloud product specifications
(Bloomberg) — Alibaba Group Holding Ltd. is cutting prices for cloud customers from the United States to Singapore by as much as 59%, mirroring deep discounts at home as the once high-flying division struggles to fend off rivals and revive growth.
The move coincides with a surge in demand for cloud computing to support a global boom in AI development, as well as a complicated internal restructuring.
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