Alibaba Group unveiled Wan3.0, its latest AI video-generation model, on Monday, Aug. 24, 2026, days after announcing a $10 billion share placement to support its growing artificial intelligence spending.
Wan3.0 is an advanced AI model capable of creating 30-second videos from documents, spreadsheets, presentation slides and webpages. Alibaba Cloud announced the launch on WeChat.
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The launch marks Alibaba's latest push into multimodal generative AI, targeting creative industries and business workflows. Since entering public beta on Aug. 6, Wan3.0 has already seen commercial adoption across short drama and film production, digital marketing, tourism promotion and music video creation, according to Reuters.
The launch comes shortly after Alibaba announced its share sale to fund its expansion in the global AI race. The offering was the largest follow-on share sale ever by a Hong Kong-listed company.
The capital raise follows mounting pressure on Alibaba's margins from its infrastructure spending. The company reported a 75% year-on-year decline in quarterly profit last week, largely due to rising capital expenditure on computing hardware and artificial intelligence research and development.
Alibaba Group Holding said on Sunday that it would issue new shares worth HK$80 billion, or about $10.2 billion, with the proceeds set to support its artificial intelligence investments, according to the South China Morning Post.
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Alibaba said it would use the funds to invest in its “full-stack AI capabilities”, including expanding and enhancing its AI infrastructure, as it seeks to strengthen its position in the global AI race.
The move highlights Alibaba's efforts in recent years to transform from an e-commerce giant into a full-stack AI player, with operations spanning large language models, semiconductors, computing infrastructure and AI applications.
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