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

Channel News Asia Monday 24 August 2026, 08:15 UTC 1 min read

Key Points

Alibaba launches Wan3.0 AI video model after $10 billion share sale BEIJING, Aug 24 : 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 per cent plunge in quarterly earnings from a year ago due to soaring AI-related capital expenditure.

Alibaba (LOCATION) Wan3.0 AI (ORG) BEIJING (LOCATION) Chinese (ORG) AI (ORG) Alibaba Cloud (ORG) Hong Kong (LOCATION)

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

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