Posted 1/2/2024, 11:30:20 AM
Baidu Cancels YY Live Acquisition Amid China's Tighter Regulation of Live Streaming, Turns Focus to AI and Chatbot Ernie
- Baidu canceled its acquisition of YY Live amid fierce competition and tighter regulation in China's live streaming sector
- The move allows Baidu to focus more on its AI business and Ernie Bot chatbot
- Ernie Bot already has over 100 million users after launching paid version in November
- Joyy sought legal advice and said it will consider all options in response to terminated deal
- Tighter regulation and arrests in live streaming industry signal greater scrutiny from Chinese authorities