<ul><li>Chinese e-commerce giant Alibaba is downsizing its metaverse operations as part of a restructuring effort to improve efficiency.</li><li>The downsizing has resulted in layoffs in Alibaba's metaverse unit, Yuanjing.</li><li>The unit will continue to be active but will shift its focus to metaverse applications, tools, and customer-oriented services.</li><li>Alibaba's decision reflects the trend among tech firms to reallocate resources towards artificial intelligence (AI) and scale back investments in the metaverse sector.</li></ul>

Chinese E-commerce Giant Alibaba Downsizing Metaverse Unit to Streamline Operations: Report

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