Alibaba Raises Over $10 Billion for AI Push, Launches Wan3.0

Alibaba Group is stepping up investment in generative artificial intelligence as it seeks to combine cloud computing, chips and large language models into a broader technology platform. The strategy is aimed at strengthening its position in China’s intensifying AI race while opening new revenue opportunities in film, advertising and digital content. The funding underscores the heavy capital requirements of training and deploying advanced models at scale.

Alibaba recently completed a share placement raising more than $10 billion, with the proceeds earmarked entirely for AI infrastructure, including chips, data centers and large language models. Alibaba Cloud also unveiled Wan3.0, its latest video-generation model, which accepts multiple input formats and can produce clips of up to 30 seconds. The company is targeting applications across filmmaking, commercial advertising and other content-production workflows.