Alibaba Cloud announces price cut on products powered by offshore data centers

China's Alibaba Cloud on Monday said it will cut prices for products that are powered by its offshore data centers by as much as 59% amid rising competition to attract artificial intelligence software developers.

The cloud service provider said products related to computing, storage, network, database and big data will receive an average of a 23% price reduction.

This is the third time the cloud arm of Chinese e-commerce leader Alibaba Group Holding has moved to cut prices over the last 12 months. In February, Alibaba had already announced a similar price cut programme aimed at domestic users.


The price cuts mark Alibaba's latest effort to lure developers to build data-intensive AI models and applications using its cloud services.

(Reporting by Josh Ye; Editing by Jacqueline Wong)