ALIBABA Group is cutting prices for cloud customers from the US to Singapore by as much as 59 per cent, mirroring deep discounts at home as the once high-flying division struggles to fend off rivals, reports Bloomberg.
The Hangzhou-based firm slashed prices on Monday by an average of 23 per cent for around 500 cloud product specifications. Those discounts are now available to customers in 13 regions, including Japan, Indonesia, the United Arab Emirates and Germany.
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.
Chief executive officer Eddie Wu is spearheading a far-reaching overhaul to try and revitalise Alibaba's main businesses including ecommerce.
alibaba cancelled plans for a public listing of the cloud business in November, citing difficulties getting the high-end Nvidia Corp chips it needs to compete, and has faced rising competition from Tencent Holdings.
SeaNews Turkey
The Hangzhou-based firm slashed prices on Monday by an average of 23 per cent for around 500 cloud product specifications. Those discounts are now available to customers in 13 regions, including Japan, Indonesia, the United Arab Emirates and Germany.
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.
Chief executive officer Eddie Wu is spearheading a far-reaching overhaul to try and revitalise Alibaba's main businesses including ecommerce.
alibaba cancelled plans for a public listing of the cloud business in November, citing difficulties getting the high-end Nvidia Corp chips it needs to compete, and has faced rising competition from Tencent Holdings.
SeaNews Turkey