Alibaba launches Wan3.0 AI video model after $10 billion share sale

Alibaba officially rolled out its latest AI video generation-model Wan3.0 on Monday with enhanced capabilities after the Chinese internet giant launched a $10 billion share ‌placement ⁠to fund ⁠rising AI spending.

The new model can generate 30-second videos from documents, spreadsheets, slides and web pages, Alibaba Cloud said in a post on the WeChat platform.

⁠Alibaba said ‌Wan3.0 had been ​used in ​short drama and ⁠film production, advertising and marketing, tourism promotion ​and music video creation since a ​public beta version was launched on August 6.


The release comes a day after Alibaba announced the share sale, ‌the largest-ever primary follow-on offering by a Hong Kong-listed company, as it ramps ⁠up spending in the intensifying global AI race.

Alibaba last week reported a ​75% plunge in quarterly earnings from a year ago due to soaring AI-related capital expenditure.