Sony Reportedly Developing PS3 Emulation for PlayStation 5

Industry insiders claim Sony is working on backwards compatibility for select PS3 titles on its current-gen console.

Insiders Jeff Grubb and Nick Baker suggest PS3 emulation has been in development for some time.
Sony has not officially confirmed plans for native PS3 emulation on the PS5.
Current PS3 games are available on PS5 via streaming through the PS Plus Classics Catalog.
The exact scope of the emulation project, including which titles will be supported, remains unclear.
PS5’s lack of full backwards compatibility contrasts with Xbox Series X|S's support for older games.