The total cloud computing market is set to be worth $1.4trn by 2027. Credit: Poetra.RH/shutterstock

Alibaba Cloud has slashed the prices of its products by nearly two thirds (59%) for international customers. The company announced its new prices today (8 April) citing price reductions due to using data centres outside of mainland China. 

Affected products include Alibaba Cloud’s big data products, compute, network, storage and database. The company has also increased the free monthly usage of its Cloud Data Transfer Service available to international companies from 20GB to 200GB. 

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The new prices are effective immediately and Alibaba Cloud stated that the reductions were in line with the company’s wider AI strategy to create the infrastructure needed for AI affordable. 

Selina Yuan, president of international business at Alibaba Cloud Intelligence, stated that cloud infrastructure would be a cornerstone in AI’s future. 

“Our latest pricing strategy is designed not only to reward long-term subscribers with more substantial discounts, but also to ensure that businesses can have a stable foundation to develop their long-term strategies when planning and developing their own AI applications,” she said. 

Alibaba Cloud slashed prices in March, triggering a price war between cloud providers after competitor JD.com lowered its prices less than 24 hours after Alibaba’s announcement. 

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In its 2024 thematic intelligence report into cloud computing, research and analysis company GlobalData reported that cloud providers will now be competing for dominance within the AI market. 

A 2024 survey conducted by GlobalData suggested around 27% of businesses already have a high adoption rate of AI into their workflows. This has significantly increased from 10% in 2023. 

As companies continue to integrate AI, each cloud provider will be gunning for leadership in providing the market’s best AI platforms and infrastructure. 

According to GlobalData forecasts, the total cloud computing market will be worth $1.4trn in 2027, achieving a compound annual growth rate of 17% between 2022 and 2027.