Alibaba Lowers Cloud Prices for International Customers in AI Push

SAN FRANCISCO - April 10, 2024 - PRLog -- As part of its efforts to expand its presence in the artificial intelligence (AI) market, the cloud business of the Chinese corporation Alibaba Group Holdings (BABA) stated on Monday that it would be lowering prices significantly for its customers located in other countries.

As a result of the reductions, Alibaba Cloud has announced that its basic public cloud products would see a total decrease of up to 59% for customers who use the company's foreign data centers located outside of the Chinese mainland.

Specifically, it was said that the "new pricing strategy" will consist of five different categories: computing, storage, network, database, and big data applications. In addition, the corporation said that the typical cost reduction would be 23%. Prices for Alibaba's Chinese clients were reduced by a significant amount in February.

Alibaba referred to the move as a component of its "AI first strategy," which is intended to make core computer resources more available to clients of varying sizes.

In an explanation, Selina Yuan, who is the president of International Business for Alibaba Cloud Intelligence, said that cloud infrastructure "is poised to be the key cornerstone for the future of artificial intelligence," and that "our commitment lies in ensuring that the foundation for AI development remains affordable."

When the clock struck 1:35 p.m. Eastern Time on Monday, Alibaba's American depositary receipts (ADRs) had not moved much. The price has decreased by 4% in 2024 and by 29% over the course of the previous year.

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