Subj : Alibaba Cloud is slashing prices in China to help fuel AI push
To   : All
From : TechnologyDaily
Date : Thu Feb 29 2024 15:00:06

Alibaba Cloud is slashing prices in China to help fuel AI push

Date:
Thu, 29 Feb 2024 14:45:09 +0000

Description:
Some Alibaba Cloud products will hit less than half price as the country 
gears up for the future of AI.

FULL STORY
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Alibaba has announced significant price reductions across its core cloud 
products in China, cutting prices by as much as 55%. 

The move, reported by CNBC , is aimed at promoting artificial intelligence 
across China and making cloud capabilities more accessible and affordable 
amid heightened competition and significant technological improvements. 

The decision comes at a time when interest and investments in AI continue to 
rise globally, spearheaded by the public preview launch of ChatGPT back in 
November 2022. Alibaba promotes cloud and AI in Chinese markets 

Liu Weiguang, President of Public Cloud Business at Alibaba Cloud 
Intelligence, emphasized the companys commitment to supporting the Chinese 
digital market: As the biggest cloud service provider in China and APAC, we 
see tremendous growth prospect of Chinas digital market. 

The price reduction is designed to lower the entry barrier for cloud 
services, enabling more SMEs and developers to leverage Alibaba Cloud for 
things like artificial intelligence. 

Generative AI requires a lot of compute, storage, and networking 
capabilities, therefore a holistic and scalable cloud is important to 
developers success in order to both provide the right tools and to reduce or 
eliminate siloes. 

Recent research from analyst firm Canalys revealed that 2023 spend on cloud 
infrastructure services worldwide had climbed 18% year-on-year. 

The same report posits that the growth rate could reach 20% in 2024. 

Alibaba Clouds price cuts on over 100 product specifications underscore its 
commitment to fuelling the adoption of AI technologies and supporting the 
quickly evolving landscape. 

However, while Alibaba has a higher market share within China, the company 
lags far behind Amazon, Microsoft and Google, which together account for 
around two-thirds of global cloud spend. More from TechRadar Pro Alibaba 
scraps plans to spin off its cloud business Weve rounded up a list of the 
best cloud hosting providers Check out the best cloud storage and best cloud 
backup tools



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Link to news story:
https://www.techradar.com/pro/alibaba-cloud-is-slashing-prices-in-china-to-hel
p-fuel-ai-push


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