Alibaba Group confirmed it developed HappyHorse 1.0, a new text-to-video AI model. The model currently holds the top position on a global leaderboard tracking AI capabilities.
Token Hub, the company's AI-focused unit, is conducting internal testing. Alibaba plans to launch API access soon to begin monetization and broader application.
Alibaba shares rose more than 4% during intraday trading following the reveal. This development increases competition with rivals like ByteDance in the generative AI sector.