Alibaba has officially launched its latest Wan3.0 artificial intelligence video-generation model, expanding its AI capabilities as the Chinese technology company increases investment in the sector. The launch comes shortly after Alibaba announced a $10 billion share placement to help fund its growing AI infrastructure spending.
Alibaba has officially launched Wan3.0, its latest artificial intelligence video-generation model, as the Chinese technology giant accelerates investment in AI following a $10 billion share placement announced last week.
The new model can generate videos of up to 30 seconds from documents, spreadsheets, presentation slides and web pages, according to Alibaba Cloud. The company announced the capabilities in a post on the WeChat platform.
Alibaba said Wan3.0 has already been used in areas including short-drama and film production, advertising and marketing, tourism promotion and music-video creation since an earlier public beta version was released on Aug. 6.
The launch comes as Alibaba seeks to strengthen its position in the increasingly competitive global AI market. The company announced plans on Aug. 24 to raise about HK$80 billion ($10.2 billion) through a placement of newly issued shares to non-U.S. investors, with the proceeds earmarked for expanding its AI infrastructure and broader AI capabilities.
The share sale followed a sharp increase in Alibaba's AI-related spending. The company reported last week that quarterly earnings fell 75% from a year earlier, while capital expenditure increased 75% to 67.7 billion yuan as it invested heavily in AI and cloud computing.
The latest model therefore represents another step in Alibaba's effort to turn its AI investments into products and services across multiple industries.
The company has been expanding its AI operations through Alibaba Cloud and its range of proprietary AI models. Wan3.0's ability to generate video from different types of business and digital content also broadens the potential applications of Alibaba's generative AI technology.
Alibaba's latest developments come amid intensifying competition among Chinese and U.S. technology companies to develop increasingly capable AI models and build the computing infrastructure required to support them.
The $10 billion share placement gives Alibaba additional capital as it pursues that strategy, while the launch of Wan3.0 provides a new example of how the company is deploying its AI investments into commercial applications.
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