Alibaba officially rolled out its latest AI video-generation model, Wan3.0, on Monday, Aug. 24, following a $10 billion share placement to finance rising artificial-intelligence spending. Alibaba Cloud said the model can create 30-second videos from documents, spreadsheets, slides and web pages. Since its public beta began on Aug. 6, Wan3.0 has been used for short dramas, films, advertising and marketing, tourism promotion and music videos. The launch came one day after Alibaba announced what it described as the largest-ever primary follow-on offering by a Hong Kong-listed company. Alibaba reported last week that quarterly earnings fell 75% from a year earlier because of higher AI-related capital expenditure.