This experimental study investigates the impact of ChatGPT-simplified authentic texts on university students' reading comprehension, inferencing, and reading anxiety levels. A within-subjects design was employed, and 105 undergraduate English as a foreign language (EFL) students engaged in both original and ChatGPT-simplified text readings, serving as their own controls. The findings reveal a significant improvement in reading comprehension scores and inferencing scores following ChatGPT intervention. However, no significant change in reading anxiety levels was observed. Results suggest that ChatGPT simplification positively influences reading comprehension and inferencing, but its impact on reading anxiety remains inconclusive. This research contributes to literature on the use of artificial intelligence (AI) in education and sheds light on ChatGPT's potential to influence language learning experiences within higher education contexts. The study highlights the practical application of ChatGPT as a tool for helping students engage in authentic text readings by making text more comprehensible. Based on the findings, several multifaceted implications that extend to various stakeholders in the field of language education are provided.