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

Alibaba (9988) officially rolled out its latest AI video generation-model Wan3.0 on Monday with enhanced capabilities after the Chinese internet giant launched a US$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 percent plunge in quarterly earnings from a year ago due to soaring AI-related capital expenditure.

Reuters

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓