{"slug": "alibaba-launches-wan3-0-ai-video-model-after-10-billion-share-sale", "title": "Alibaba launches Wan3.0 AI video model after $10 billion share sale", "summary": "Alibaba Group Holding Ltd. launched its latest AI video generation model Wan3.0 on Monday, capable of generating 30-second videos from documents, spreadsheets, slides, and web pages, following a $10 billion share placement, the largest-ever primary follow-on offering by a Hong Kong-listed company. The model has been used in short drama and film production, advertising, marketing, tourism promotion, and music video creation since a public beta on August 6. The release comes as Alibaba ramps up AI spending, with quarterly earnings plunging 75% due to soaring AI-related capital expenditure.", "body_md": "BEIJING, Aug 24 (Reuters) - 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.\n\n• 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.\n\n• 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.\n\n• 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.\n\n• Alibaba last week reported a 75% plunge in quarterly earnings from a year ago due to soaring AI-related capital expenditure.\n\n(Reporting by Ethan Wang and Eduardo Baptista; Editing by Kirsten Donovan)", "url": "https://wpnews.pro/news/alibaba-launches-wan3-0-ai-video-model-after-10-billion-share-sale", "canonical_source": "https://ca.finance.yahoo.com/news/alibaba-launches-wan3-0-ai-081504128.html", "published_at": "2026-08-24 08:15:04+00:00", "updated_at": "2026-08-24 08:43:48.149499+00:00", "lang": "en", "topics": ["generative-ai", "artificial-intelligence", "ai-products"], "entities": ["Alibaba Group Holding Ltd.", "Alibaba Cloud", "Wan3.0", "Hong Kong"], "alternates": {"html": "https://wpnews.pro/news/alibaba-launches-wan3-0-ai-video-model-after-10-billion-share-sale", "markdown": "https://wpnews.pro/news/alibaba-launches-wan3-0-ai-video-model-after-10-billion-share-sale.md", "text": "https://wpnews.pro/news/alibaba-launches-wan3-0-ai-video-model-after-10-billion-share-sale.txt", "jsonld": "https://wpnews.pro/news/alibaba-launches-wan3-0-ai-video-model-after-10-billion-share-sale.jsonld"}}