Microsoft slashed prices on several of its cloud computing services, it announced on Monday, following through on a standing promise to match Amazon Web Services, which made similar cuts last week.

The software giant made the announcement in a blog post by Windows Azure general manager Steven Martin saying it will slash prices on various services by 27 to 65 percent. "We recognize that economics are a primary driver for some customers adopting cloud, and stand by our commitment to match prices and be best-in-class on price performance," Martin wrote. The move coincided with Microsoft's Build conference taking place this week in San Francisco.