HONG KONG, April 8 (Reuters) - China's Alibaba Cloud on

Monday said it will cut prices for products that are powered by

its offshore data centers by as much as 59% amid rising

competition to attract artificial intelligence software

developers.

The cloud service provider said products related to

computing, storage, network, database and big data will receive

an average of a 23% price reduction.

This is the third time the cloud arm of Chinese e-commerce

leader Alibaba Group Holding ( BABA ) has moved to cut prices

over the last 12 months. In February, Alibaba had already

announced a similar price cut programme aimed at domestic users.

The price cuts mark Alibaba's latest effort to lure

developers to build data-intensive AI models and applications

using its cloud services.