Florida’s legislature has passed a bill banning children younger than 16 from having social media accounts despite some pushback from Governor Ron DeSantis, who said he will be wrestling with whether to sign the measure into law. Due to a procedural requirement, DeSantis will have to sign or veto the proposed legislation before lawmakers conclude the current session in a matter of weeks. He has expressed dissatisfaction with the lack of a provision to let parents override the restriction, which would curtail access to the most popular sites, potentially impacting TikTok, Instagram, Facebook, Snapchat and YouTube. Read more

Jonathan Mayer has been named the Justice Department’s first chief science and technology advisor and will also hold the title chief artificial intelligence officer, another first. The announcement was made by Attorney General Merrick Garland, who said “the Justice Department must keep pace with rapidly evolving scientific and technological developments in order to fulfill our mission to uphold the rule of law, keep our country safe, and protect civil rights.” Mayer will advise Garland and department leaders and collaborate with other departments “on complex issues requiring technical expertise,” including cybersecurity, AI and other areas of emerging technology. Read more

Community message board and social news aggregator Reddit, founded in 2005, has filed to go public on the New York Stock Exchange in an IPO observers say may be complete in a matter of weeks. It is the first social media company to go public in many years, with Snap Inc.’s 2017 offering cited as the most recent stock market splash. Reddit’s bankers are reportedly seeking a $5 billion valuation, about half the $10 billion it was valued at for a 2021 private funding round. Reddit filed with the SEC the same day it announced an “expanded partnership” with Google to use Vertex AI. Read more

New York-based Qloo has raised $25 million to fund an artificial intelligence-powered analytics engine. Drawing on consumer behavioral data from around the globe, Qloo uses proprietary algorithms to filter through more than half a billion attributes, including brands, music, film, TV, podcasts, dining, travel and more. Qloo’s AI models “are capable of identifying trillions of connections between these entities,” the company says, listing Netflix, Michelin and Samsung among those already using the service to find connections between customers who frequent Starbucks and the kind of movies they like. Read more

Demand for artificial intelligence computer chips drove Nvidia income up 769 percent to nearly $12.3 billion for Q4, year-over-year, and 286 percent — to just over $29.7 billion — for the full-year fiscal 2024 frame that ended January 28. Revenue was $22.1 billion (+265 percent) and $60.9 billion (+126 percent) for the respective periods. Data center sales hit record highs of $18.4 billion for the quarter, up 409 percent from the previous year, $47.5 billion for the fiscal year, an increase of 217 percent. Gaming revenue was flat for Q4, at $2.9 billion, and up 115 percent for the year. Read more