Alibaba has officially launched Wan 3.0, its latest AI video generation model, featuring the ability to produce 30-second videos in a single generation pass from documents, spreadsheets, slides, and web pages.
The release, announced Monday by Alibaba Cloud on the WeChat platform, comes just one day after the Chinese internet giant completed a $10 billion share placement — the largest-ever primary follow-on offering by a Hong Kong-listed company — to fund its rising AI spending.
Wan 3.0 has been available in public beta since August 6 and has already been used in short drama and film production, advertising and marketing, tourism promotion, and music video creation, according to Alibaba. The model generates synchronized audio alongside video and can produce 1080p clips.
The launch arrives amid an intensifying global AI video generation race, with competitors including OpenAI's Sora, Google's Veo, and ByteDance's video models all vying for dominance in the rapidly growing market for AI-produced video content.
The release follows a challenging quarter for Alibaba, which reported a 75% plunge in quarterly earnings from a year ago due to soaring AI-related capital expenditure. The company is betting heavily that its AI investments will drive future growth across its cloud computing, e-commerce, and digital entertainment businesses.
