<ul><li>Alibaba Group Holding has scaled back its metaverse operations, laying off dozens of employees in its Yuanjing division.</li><li>The layoffs are part of a strategic shift within Alibaba as attention shifts towards artificial intelligence (AI).</li><li>Yuanjing, originally launched in 2021, was Alibaba's dedicated metaverse unit but has been scaled down as part of an optimization initiative.</li><li>Other major tech firms, including Meta and Baidu, have also reduced investments in the metaverse and focused more on AI.</li></ul>

Alibaba Scales Down Metaverse Operations, Lays Off Dozens Of Employees As Hype Cools Down

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