Market Chatter: ChatGPT, Roblox to Be Subject to EU's Strictest Platform Rules

MT Newswires Live07-30 07:42

OpenAI's ChatGPT and Roblox will be designated as very large online platforms under the European Union's Digital Services Act after surpassing 45 million monthly users in the bloc, Bloomberg reported, citing a person familiar with the matter.

The designation, expected as soon as August, will subject the companies to stricter content moderation, transparency and risk mitigation requirements, the report said.

Companies that violate the rules face fines of up to 6% of annual global revenue, Bloomberg reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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