Ternus Takes Helm at Apple Amid AI Struggles, Chevron Eyes Venezuelan Oil Expansion

Apple's new CEO, John Ternus, has taken over from Tim Cook, ending his 15-year tenure at the tech giant. During Cook's time, Apple's value skyrocketed to $4.6 trillion thanks to the massive popularity of the iPhone.

The transition comes as Apple is struggling to catch up with rivals in the artificial intelligence (AI) space. The company has gotten off to a rough start after stumbling in its efforts to deliver new AI features nearly two years ago, but it recently unveiled upgrades to its Siri assistant, emphasizing a focus on privacy and day-to-day use.

Meanwhile, oil giant Chevron is planning to expand its operations in Venezuela, with the U.S. government announcing an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Chevron officials are expected to visit Venezuela this week to unveil the new investment.