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
Alibaba has unveiled its latest AI video generation model, Wan3.0, equipped with advanced features following a significant $10 billion share sale to bolster its AI investments. The new model can transform documents, spreadsheets, slides, and web pages into 30-second videos, according to Alibaba Cloud's announcement on WeChat. Since its public beta launch on August 6, Wan3.0 has been employed in short drama, film production, advertising, marketing, tourism promotion, and music video creation.
The release of Wan3.0 comes a day after Alibaba announced its largest-ever primary follow-on offering by a Hong Kong-listed company, reflecting its commitment to fuel growth in the burgeoning global AI sector. Alibaba also recently disclosed a 75% drop in quarterly earnings from the previous year, driven by escalating AI-related expenses.
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