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Alibaba began slashing prices by as much as 55% on more than 100 services Thursday in a bid to win back customers.

(Bloomberg) -- JD.com Inc. took less than a day to respond to Alibaba Group Holding Ltd.’s price cuts in cloud computing services with its own sharp reductions, an aggressive round of competition that will benefit customers and erode profits at China’s leading technology companies.Most Read from BloombergTrump Warns of Big Losses From Asset Sales During Property SlumpFed’s Preferred Inflation Metric Increases by Most in a YearStocks End Month at New Highs After Inflation Data: Markets WrapHow Mu

Alibaba slashes cloud prices up to 55% to regain market share and democratize AI. Experts skeptical of impact, but investment in AI startup shows commitment.

The internet company’s board approved the expansion of an existing buyback program that was already among the country’s largest, encompassing about $9.5 billion last year alone.

(Bloomberg) -- Alibaba Group Holding Ltd. green-lit another $25 billion in stock repurchases, aiming to assuage investors worried about plateauing growth at a Chinese e-commerce and cloud pioneer struggling to fend off new rivals such as PDD Holdings Inc.Most Read from BloombergTrump Denied Immunity in DC Election Case by Appeals CourtChina Replaces Top Markets Regulator as Xi Tries to End RoutHaley Loses Nevada Primary to ‘None of These Candidates’ OptionXi to Discuss China Stocks With Regulato