Official press releases from Alibaba or major news outlets reporting on Alibaba's product launches

Alibaba Cuts Dozens of Employees from Metaverse Unit Amid Shift to AI Focus

Nov 4, 2024, 05:10 AM

Alibaba Group Holding Ltd. has reportedly laid off dozens of employees from its metaverse unit as the company shifts its focus towards artificial intelligence (AI) in response to a cooling enthusiasm in the metaverse sector. This decision aligns with a broader industry trend where companies are reassessing their investments in virtual reality and augmented reality technologies. The layoffs are part of Alibaba's strategy to adapt to changing market dynamics, reflecting a significant pivot from metaverse initiatives to AI development.