TMTPOST -- Baidu, a leading AI powerhouse with a robust internet foundation, has officially acquired the video-based entertainment live streaming business in mainland China from JOYY Inc. The service, known as YY Live, was previously owned by JOYY. Baidu has paid a total of approximately $2.1 billion for the acquisition. As part of the deal, Baidu will also receive approximately $1.6 billion that had previously been held in escrow under a prior share purchase agreement, which is no longer in effect. Baidu intends to invest these funds into enhancing its cloud and AI infrastructure to further strengthen its technological capabilities.