Posted 4/8/2024, 8:55:47 AM
Alibaba Slashes Cloud Prices Up to 59% to Boost Growth Amid Rising Competition
- Alibaba cutting cloud prices globally by up to 59% to compete with rivals and boost growth
- Coincides with surge in AI demand and internal restructuring under new CEO
- Facing rising competition in China from Tencent and state-backed providers
- Struggling to gain ground abroad due to US chip curbs and China tech crackdown
- Follows domestic price cuts in February that sparked a price war with competitors like JD.com