Big news in the tech world! Baidu, a giant Chinese tech company, just bought YY Live, a live-streaming service, for about $2.1 billion. This deal was tried before but didn't work out. Now, with changes in Chinese rules, it's finally happening!
- Baidu bought YY Live to compete better with other big video companies.
- This will help Baidu make more money and grow its business.
- The deal also frees up $1.6 billion for Baidu to use on things like AI (Artificial Intelligence).
| Fact | Number |
|---|---|
| Deal Price | $2.1 Billion |
| Original Deal Price (failed) | $3.6 Billion |
| Money released for Baidu to use on AI | $1.6 Billion |
| Baidu's stock increase (premarket) | 1% |
| JOYY's stock increase | 6% |
