The European Union has classified ChatGPT as a Very Large Online Search Engine (VLOSE) under its Digital Services Act, subjecting it to increased regulatory oversight due to its significant user base in the EU. Alongside ChatGPT, Reddit and Roblox were designated as Very Large Online Platforms (VLOP), all surpassing 45 million average monthly users. These companies must comply by January 2027 with new rules to address systemic risks such as illegal content, user safety, and fundamental rights. This move reflects the EU's commitment to stricter digital platform accountability, with OpenAI preparing to meet these enhanced requirements.
Roblox shares fell 3% following continued selling by Cathie Wood's ARK Invest, which is reallocating capital from consumer platforms like Roblox to nuclear power companies such as BWX Technologies. Despite Roblox's strong revenue growth of 43% year-o...
GameStop's stock climbed 4% following an amendment to its convertible note exchange, which now includes a $358 million cash payment to cap share dilution. The revised deal fixes the total share count by paying 27% of the consideration in cash and 73%...
