Alibaba Unveils Big Cloud Price Cuts as AI Rivalry Deepens

Alibaba Group Holding Ltd. is rolling out its second major price cut for cloud services in years, aiming to win back users from rivals like Tencent Holdings Ltd. The Chinese internet pioneer will slash prices starting Thursday on scores of internet-based services by as much as 55%, and by 20% on average. The discounts span more than 100 products, including data storage and elastic computing options for online processing power to clients. The cuts mark one of the more aggressive moves by Alibaba to stay ahead of Tencent and Baidu Inc. in the cloud business.

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