So here’s the deal, Baidu cancelled the YY Live agreement, right? Now the reason is ’cause they wanna focus more on AI, and investors have been waiting for deets on this move for a while now. Check it out, this is what the Jefferies equity analysts are saying, “China’s internet sector ‘has been undergoing changes’, which reflects Baidu’s focus on generative AI.” And according to them, Baidu’s Ernie Bot has been crushing it, hitting major milestones and racking up users like nobody’s business. And this isn’t just talk – Baidu reported that as of December 28, Ernie Bot had over 100 million users. That’s no joke!
But hold up, we’re not done yet. There’s more to this story. Baidu’s CEO, Robin Li Yanhong, he’s talking about how this move is gonna set the stage for some serious revenue and profit expansion within their AI ecosystem. Big things are happening, folks.
But hey, let’s not forget about YY Live. They’re not taking this lying down – they’re seeking legal advice and exploring their options. And it makes sense, right? This deal with Baidu was a big deal for them, and they’re not about to let it go without a fight.
But here’s the thing, YY Live might be facing an uphill battle. With the government cracking down on live streaming services and competition heating up, they’ve got their work cut out for them. Plus, they’ve been dealing with accusations of fraudulent activity from US hedge fund Muddy Waters. It’s a tough situation all around.