Economy News – Update
Ali Baba has announced a significant development in the realm of artificial intelligence by making its models available for free video creation, thereby intensifying competition against rivals such as Oben AI.
The Chinese tech giant revealed that it has open-sourced four models from the “Wan2.1” series, the latest iteration of its core artificial intelligence framework capable of generating images and videos from textual and visual inputs.
These models will be accessible via “Alibaba Cloud’s Model Scope” and “Hugging Face,” a prominent repository for artificial intelligence models, catering to academics, researchers, and commercial entities globally.
Shares of Ali Baba, traded on the Hong Kong Stock Exchange, experienced a close of approximately 5% higher.
The Rise of Open Source AI Technologies
Open source artificial intelligence technologies have gained traction since January, when the Chinese firm Deepseek Deep Cick disrupted global markets by claiming its AI model was developed at a significantly lower cost than those of major players, utilizing less sophisticated “Envenia” chips.
Like the Ali Baba model, the Deep Cick model is open source, allowing users to download and modify it. This contrasts with proprietary models, such as those created by Oben AI, which do not generate revenue for their developers. However, the open-source nature of these technologies fosters innovation and cultivates a community around the product.
A current debate is centered on whether AI models will evolve into a commodity that is universally available.
Chinese firms, particularly, are working to advance open source AI models, with products from Ali Baba and Deepseek being among the most widely utilized worldwide. Ali Baba introduced its first open-source model in August 2023, while Mita leads the charge in the United States with its “Llama” models.
Ali Baba’s stock has seen a remarkable 66% increase since the beginning of 2023, buoyed by improved financial performance and positioned as a leader in the artificial intelligence sector in China, alongside indications of enhanced support from Chinese President Xi Jinping for the local private sector.
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