Alibaba cuts global cloud prices by up to 59% to attract AI developers and compete with rivals.

Alibaba slashes cloud prices globally by up to 59% to attract AI developers and compete with rivals such as Tencent and state-backed providers. The move comes amid a surge in demand for cloud computing to support the global boom in AI development. Alibaba's cloud division, led by CEO Eddie Wu, is undergoing a major restructuring to revitalize the company's core businesses, including e-commerce.