Alibaba launches Wan3.0, which turns business documents into 30-second videos
- Alibaba Cloud released Wan3.0, an AI video-generation model that creates videos up to 30 seconds long from documents, spreadsheets, slides, and web pages.
- Alibaba said Wan3.0 had been used for short dramas and films, advertising and marketing, tourism promotion, and music videos since its August 6 public beta.
- The release followed Alibaba's announced $10 billion share placement, which the company said would fund growing AI spending.
- Alibaba reported that quarterly earnings fell 75% year over year last week, attributing the decline to rising AI-related capital expenditure.