Baidu’s Decision to Cancel YY Live Acquisition Reflects Shifting Focus to AI
Baidu’s recent move to cancel its acquisition of YY Live, a live-streaming platform owned by Joyy, has not come as a surprise to industry analysts. The cancellation can be seen as a reflection of the changes taking place in China’s internet sector, as Baidu shifts its focus towards generative AI. The cancellation of the deal allows Baidu to concentrate on its AI-centric business and product strategy, which is expected to drive sustained revenue and profit expansion. Baidu’s co-founder, chairman, and CEO, Robin Li Yanhong, expressed this sentiment in the company’s third-quarter earnings report, emphasizing the importance of Baidu’s Ernie and Ernie Bot ecosystem.
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