Alibaba raises prices for AI chips, cloud storage
Business
Alibaba is raising prices on its AI chips and cloud storage: Expect hikes between 5% and 34% for T-Head AI chips, and a 30% jump for Cloud Parallel File Storage.
The company says it's responding to bigger demand and higher running costs, hoping to cash in on China's booming interest in artificial intelligence.
Other companies are also raising prices
Alibaba isn't alone: Google and Tencent have also announced price increases for their AI services lately.
After the news broke, Alibaba's stock climbed 3.2% in Hong Kong, showing investors are on board with the move as tech giants everywhere look to balance rising costs with growing AI excitement.