The challenges John Ternus inherits as he replaces Tim Cook on Sept. 1 amid rising component costs, staff retention issues, efforts to catch up in AI, and more (Mark Gurman/Bloomberg)

The European Union has classified ChatGPT, Reddit and Roblox as “very large online platforms” after each surpassed 45 million monthly users in the bloc, subjecting them to stricter Digital Services Act oversight. Nvidia announced a $3.5 billion investment in MediaTek via convertible bonds, while OpenAI reported its advertising division reaching a $1 billion annualized revenue run rate. Google’s Maps app now labels Lake Ontario as “Lake America” for U.S. users following a U.S. geographic-name change.