Alibaba has announced significant price reductions for its cloud services in China, aiming to stimulate its artificial intelligence (AI) business. The company is reducing prices by an average of 20%, with some cuts going as deep as 55%, marking the largest price reduction in its history. These reductions apply to over 100 core cloud products, including data storage and elastic computing products, setting the prices of its core services to the lowest in the market. This strategic move is part of Alibaba's effort, symbolized by its stock ticker $BABA, to win back users from competitors such as Tencent, amid intensifying rivalry in the AI sector. The price cuts have sparked a price war in China's cloud computing market, with competitors quickly responding with their own reductions and a bold declaration: "Cut all you like, let’s fight to the end!" Alibaba's aggressive pricing strategy represents its second major price cut in recent years, as the company seeks to rekindle growth in its cloud division.
Divest China from America's artificial intelligence industry https://t.co/m6NqIFnohU
It took less than a day for Alibaba's aggressive moves to trigger a price war in China's cloud computing market. https://t.co/AXfgHURTIz responded with its own cuts and a declaration: “Cut all you like, let’s fight to the end!” https://t.co/XAKHbOGedO via @technology
https://t.co/RXBB97FM2J took less than a day to respond to Alibaba’s price cuts in cloud computing services with its own sharp reductions https://t.co/M2ft8Ri8ab
https://t.co/5NY8mE5jTb took less than a day to respond to Alibaba’s price cuts in cloud computing services with its own sharp reductions https://t.co/JMXC8zeuk2
https://t.co/IYA4U13sNP took less than a day to respond to Alibaba’s price cuts in cloud computing services with its own sharp reductions https://t.co/BuqbXAHEVo
$BABA (-0.1% pre) Alibaba HK shares dip as cloud unit slashes prices to fuel AI growth - SI https://t.co/54u4ng6mKb
Alibaba is rolling out its second major price cut for cloud services in years, aiming to win back users from rivals like Tencent competing to provide the tools critical to training artificial intelligence. https://t.co/o5OvGIe1xL
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#Alibaba #Cloud slashed cloud product prices across the board, with average cut of more than 20% and maximum cut of 55%. The Wire https://t.co/haGgRmRhhd
Alibaba Cloud slashes prices by as much as 55% to fuel AI growth in China https://t.co/U9B5XqzbQr
Alibaba is cutting prices for over 100 core cloud products in China by up to 55%, and 20% on average, including data storage and elastic computing products (Bloomberg) https://t.co/80LF8JjQA6 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/m5EBjAoyyl
Alibaba $BABA is rolling out its second major cost cuts for cloud services in years, aiming to win back users from rivals like Tencent, competing to provide the tools critical to training AI - Bloomberg
Alibaba Unveils Big Cloud Price Cuts as AI Rivalry Intensifies https://t.co/kUzkQo9qTx
#BREAKING ALIBABA CUTS ITS CLOUD SERVICE PRODUCTS BY AN AVERAGE OF 20%, MARKING THE LARGEST PRICE CUT EVER. THE PRICE OF ITS CORE SERVICES HAS BEEN REDUCED TO THE LOWEST IN THE MARKET. *Price war continues in China cloud services. #Alibaba $BABA
BREAKING: Alibaba is cutting cloud prices in China to boost its AI business @TheTerminal $BABA
*ALIBABA CUTS CLOUD SERVICE PRICES TO SPUR CHINA AI BUSINESS
"A price war has also begun. Bytedance's Huoshan Cloud sales team will ask customers, ‘How much does Alibaba want from you? We'll give you a 40% discount.’”" https://t.co/ljPadKjhPS