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The EU AI Act's high-risk provisions and GPAI model obligations become fully enforceable on August 2, 2026 under Regulation 2024/1689. Foundation model providers including non-EU companies offering services in Europe must comply with new transparency, documentation, and conformity assessment requirements. Non-compliance can result in fines of up to €35 million or 7% of global annual turnover, whichever is higher. Most enterprises have not yet completed the required assessments as the deadline approaches. Next Waves Insight reported the core details. GLACIS noted additional context. Axis Intelligence added corroborating details.