Alibaba officially launched its latest artificial intelligence video-generation model, Wan3.0, on Monday as the Chinese technology giant steps up investment in AI amid intensifying global competition.
Alibaba Cloud said the new model can create videos of up to 30 seconds from documents, spreadsheets, presentation slides and web pages.
The company said Wan3.0 has already been used in short drama and film production, advertising, marketing, tourism promotion and music video creation since its public beta release on August 6.
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The launch came a day after Alibaba announced plans for a $10 billion share placement to finance growing investment in artificial intelligence. The offering is the largest primary follow-on share sale by a Hong Kong-listed company.
Alibaba is increasing spending on AI as technology companies worldwide compete to develop more advanced models and applications.
The company reported last week that quarterly earnings fell 75% year-on-year, partly due to higher capital expenditure linked to its AI expansion.
The latest model launch highlights Alibaba’s efforts to strengthen its position in the rapidly expanding AI sector.
