Alibaba's video generation model Wan3.0 creates clips up to 30 seconds long from text, PDFs, and PowerPoint files. A 30-second 1080p clip costs $6. Alibaba's quarterly profit dropped 75 percent year-over-year as the company ramps up AI spending.

BEIJING, Aug 24 : 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…

Alibaba’s Wan3.0 makes 30-second 1080p clips from PDFs and slides, undercuts Veo on price, and ships with closed weights.