What is React lazy function?

A function that creates a lazy version of a component
A function that returns a higher-order component
A function that creates a new instance of a component
A function that creates a new element in the DOM

React lazy is a function that creates a lazy version of a component. This lazy version is loaded only when it is actually needed, such as when a user navigates to a page that requires the component. This can help improve performance by reducing the initial load time of the application.

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