Wang Changhu, Founder and CEO of AISphere
AsianFin — Alibaba has spearheaded the largest single-round financing in China’s AI video generation sector, leading a $60 million Series B round for AI video startup AISphere, formerly known as AISPhere.
The round also saw participation from Fortune Capital, Shenzhen Capital Group, Beijing Artificial Intelligence Industry Investment Fund, Giant Network, Antler Ventures, and other investors.
This marks AISphere’s sixth announced financing round, bringing its total funding to over RMB 800 million, and sets a record for the largest single investment in China’s AI video generation track. The company plans to use the funds to accelerate research and development and expand its market presence, further advancing the accessibility of AI-powered video creation technology.
Alibaba’s investment underscores its growing presence in the AI sector, making AISphere the sixth large AI model company publicly backed by the tech giant. Meanwhile, the Beijing Artificial Intelligence Industry Investment Fund also supports AISphere, following its investment in Shengshu Technology, another AI video leader.
Founded in April 2023, AISphere develops world-leading AI video generation models and applications aimed at meeting evolving video consumption needs. Its founder and CEO, Wang Changhu, previously led visual technology at ByteDance, where he contributed to the development of Douyin and TikTok, and served as Director of the ByteDance AI Lab from 2017 to 2021. Wang also held a Principal Researcher position at Microsoft Research.
On the product side, AISphere launched its AI video app PixVerse in January 2024 for international markets. In June 2025, the company shifted focus to China, releasing a domestic version branded as Paiwo AI. AISphere has independently developed its own video generation large model, PixVerse V5, along with related products.
The company now serves over 100 million global users. Its flagship model, PixVerse V5, ranks first on the Artificial Analysis video generation leaderboard, while PixVerse (Paiwo AI) was selected by investment firm a16z for its “Top 50 Generative AI Consumer Mobile Apps”, ranking 25th. As of June 2025, PixVerse’s overseas version reached 16 million monthly active users (MAU).
Industry data from QuestMobile’s July 2025 “Q2 AI Application Value Ranking” shows competitors like Jimeng AI with 9.59 million MAU and Keling with 1.13 million MAU, highlighting AISphere’s strong market performance.
AISphere’s financing history includes five prior rounds (A1–A5), collectively raising over RMB 400 million. Previous investors include Ant Group and Jingya Capital.
Alibaba has been highly active in AI investments, backing companies such as Zhipu AI, 01.AI, Baichuan Intelligence, MiniMax, Moonshot AI, Unitree Robotics, Yuanluo Technology, Bantouyan, SiliconBase Flow, Chongqing Yuanli Juhe, Infinite Lightyear, and Variable Robot. The company has also acquired AI hardware startup Liangqing Yiyang. This Series B investment in AISphere is part of Alibaba’s broader strategy to build a robust AI+cloud infrastructure, a commitment reinforced by a February 2025 announcement to invest RMB 380 billion over three years in cloud and AI hardware.
Alibaba Cloud has reported that AI has become a core driver of its growth. In Q1 FY2026 (calendar Q2 2025), surging AI demand boosted revenue by 26% year-on-year, the fastest growth in three years. AI-related products have posted triple-digit year-on-year growth for eight consecutive quarters.
“Looking ahead, we will continue to make firm investments around our two strategic priorities: mass consumption and AI+cloud, seizing historic opportunities to achieve long-term growth,” said Wu Yongming, CEO of Alibaba Group.
AISphere’s rise demonstrates the growing commercialization and adoption of AI video generation technologies in China and globally, with Alibaba’s backing positioning the startup to further expand its footprint and influence in the rapidly evolving AI sector.
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