In order to outpace the rival like OpenAI, the Chinese giant, Alibaba, had announced that its video generation artificial intelligence models can be used without cost. As a result, its share in Hong Kong went up around 5% when the market closed.
These models are the four open source models that are part of Wan2.1 series. Academics, researchers and commercial institutions around the world can now access them through Alibaba Cloud’s Model Scope and Hugging Face to generate images and video from text and image inputs for free.
Ever since China’s DeepSeek AI, which is also an open source model like Alibaba’s, was released in January with the claim of using lower cost and less advanced chips, people around the world have been paying attention to open-source AI tech.
Open source AI is an AI system including code, algorithms, and datasets, that the public can download and modify freely. Its purpose is not to generate revenue but to accomplish other purposes like creating the community or improving the product.
Alibaba released its first open source model in August 2023, and now is one of the most popular AI in the world, alongside DeepSeek’s. Its share in Hong Kong this year went up 66% due to factors like having better financial performance, being a key AI player in the nation, and possibly receiving support from its president, Xi Jinping, for the domestic private sector.
