Alibaba is cutting its metaverse division, following the trend of large tech companies 📉. As a result of the restructuring, dozens of employees have been laid off in Shanghai and Hangzhou. Despite this, the division will continue to operate, focusing on applications and services for customers in the metaverse.

The company has also invested $60 million in Nreal, which specializes in AR glasses. This reflects a shift in focus towards AI, similar to other market leaders.