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After posting almost 200 videos, amassing hundreds of thousands of followers and racking up millions of views, Carla Lalli Music is quitting YouTube. Substack is her new focus. 

Music is a cookbook author and food content creator, and she is shifting her focus to Substack, a subscription platform that lets creators charge users subscriptions for access to their content. Music told CNBC she came to that decision after earning more in one year of using Substack, nearly $200,000 in revenue, than she did by posting videos on YouTube since 2021. 

Music is the exact kind of content creator that Substack is trying to lure to its platform as TikTok’s future in the U.S. remains in limbo. 

San Francisco-based Substack launched in 2017 as a tool for newsletter writers to charge readers a monthly fee to read their content. The platform allows creators to connect to their followers directly without having to navigate algorithmic models that control when their content is shown, as is the case on TikTok, Google’s YouTube and other social platforms. Substack has raised about $100 million, most recently at a post-money valuation of more than $650 million, the company told CNBC.

This year, Substack has broadened its focus beyond newsletters, and on Thursday, it announced that creators can now post video content directly through the Substack app and monetize these videos.

“There’s going to be a world of people who are much more focused on videos,” Substack Co-founder Hamish McKenzie told CNBC. “That is a huge world that Substack is only starting to penetrate.”

Substack began this push after the social media landscape was thrown into flux as a result of the effective ban of TikTok in January that caused the popular Chinese-owned service to go offline for a few hours. TikTok was also removed from Apple and Google’s app stores for nearly a month. 

The disruption to TikTok in January happened as a result of a law signed by former President Joe Biden to force a sale of the Chinese-owned app or have it effectively banned in the U.S. On his first day in office, President Donald Trump signed an executive order extending TikTok’s ability to operate in the U.S., but that order expires on April 5. 

Days after TikTok went offline, Substack launched a $20 million fund to court creators to its platform.

“If TikTok gets banned for political reasons, there’s nothing to do with the work you’ve done, but it really affects your life,” McKenzie said. “The only and surefire guard against that is if you don’t place your audience in the hands of some other volatile system who doesn’t care about what happens to your livelihood.”

Moving beyond newsletters

McKenzie says that they are going after creators on competing social media platforms to start sharing their video content on Substack.

“Video-first creators, people who are mobile oriented, there’s a whole lot of new possibility waiting to be unlocked once they meet this model in the right place,” McKenzie said. 

Already, Substack has more than 4 million paid subscriptions with over 50,000 creators who make money on the platform, the company said. Substack says that 82% of its top 250 revenue-generating creators have already integrated audio or video into their content, reflecting a growing emphasis on multimedia content.

Prior to the video announcements, Substack allowed creators to post videos on the app to Notes, which is the platform’s front-facing feed format. But the feature did not allow creators to publish video content behind Substack’s paywalls. 

The update enables creators to put video content behind a paywall and it provides data on estimated revenue impact. It also allows them to track viewership and new subscribers.

Carla Lalli Music is a cookbook writer and food creator.

Carla Lalli Music

Our base case for TikTok is that it gets banned in the U.S.: Lead Edge Capital's Mitchell Green

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Datadog stock jumps 10% on tech company’s inclusion in S&P 500 index

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Datadog stock jumps 10% on tech company’s inclusion in S&P 500 index

The Datadog stand is being displayed on day one of the AWS Summit Seoul 2024 at the COEX Convention and Exhibition Center in Seoul, South Korea, on May 16, 2024.

Chris Jung | Nurphoto | Getty Images

Datadog shares were up 10% in extended trading on Wednesday after S&P Global said the monitoring software provider will replace Juniper Networks in the S&P 500 U.S. stock index.

S&P Global is making the change effective before the beginning of trading on July 9, according to a statement.

Computer server maker Hewlett Packard Enterprise, also a constituent of the index, said earlier on Wednesday that it had completed its acquisition of Juniper, which makes data center networking hardware. HPE disclosed in a filing that it paid $13.4 billion to Juniper shareholders.

Over the weekend, the two companies reached a settlement with the U.S. Justice Department, which had sued in opposition to the deal. As part of the settlement, HPE agreed to divest its global Instant On campus and branch business.

While tech already makes up an outsized portion of the S&P 500, the index has has been continuously lifting its exposure as the industry expands into more areas of society.

DoorDash was the latest tech company to join during the last rebalancing in March. Cloud software vendor Workday was added in December, and that was preceded earlier in 2024 with the additions of Palantir, Dell, CrowdStrike, GoDaddy and Super Micro Computer.

Stocks often rally when they’re added to a major index, as fund managers need to rebalance their portfolios to reflect the changes.

New York-based Datadog went public in 2019. The company generated $24.6 million in net income on $761.6 million in revenue in the first quarter of 2025, according to a statement. Competitors include Cisco, which bought Splunk last year, as well as Elastic and cloud infrastructure providers such as Amazon and Microsoft.

Datadog has underperformed the broader tech sector so far this year. The stock was down 5.5% as of Wednesday’s close, while the Nasdaq was up 5.6%. Still, with a market cap of $46.6 billion, Datadog’s valuation is significantly higher than the median for that index.

— CNBC’s Ari Levy contributed to this report.

CNBC: Datadog CEO Olivier Pomel on the cloud computing outlook

Datadog CEO Olivier Pomel on the cloud computing outlook

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Ether and related stocks gain amid the latest crypto craze: Tokenization

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Ether and related stocks gain amid the latest crypto craze: Tokenization

A representation of cryptocurrency Ethereum is placed on a PC motherboard in this illustration taken on June 16, 2023.

Dado Ruvic | Reuters

Stocks tied to the price of ether, better known as ETH, were higher on Wednesday, reflecting renewed enthusiasm for the crypto asset amid a surge of interest in stablecoins and tokenization.

BitMine Immersion Technologies, a bitcoin miner that announced plans this week to make ETH its primary treasury reserve asset, jumped about 20%. It’s gained more than 1,000% since the announcement. Betting platform SharpLink Gaming, which has also initiated an ETH treasury strategy, added more than 11%. Bit Digital, which last week exited bitcoin mining to focus on its ETH treasury and staking plans, jumped more than 6%.

“We’re finally at the point where real use cases are emerging, and stablecoins have been the first version of that at scale but they’re going to open the door to a much bigger story around tokenizing other assets and using digital assets in new ways,” Devin Ryan, head of financial technology research at Citizens.

On Tuesday, as bitcoin ETFs snapped a 15-day streak of inflows, ether ETFs saw $40 million in inflows led by BlackRock’s iShares Ethereum Trust. ETH ETFs came back to life in June after much concern that they were becoming zombie funds.

The price of the coin itself was last higher by 5%, according to Coin Metrics, though it’s still down 24% this year.

Ethereum has been struggling with an identity crisis fueled by uncertainty about the network’s value proposition, weaker revenue since its last big technical upgrade and increasing competition from Solana. Market volatility, driven by geopolitical uncertainty this year, has not helped.

The Ethereum network’s smart contracts capability makes it a prominent platform for the tokenization of traditional assets, which includes U.S. dollar-pegged stablecoins. Fundstrat’s Tom Lee this week called Ethereum “the backbone and architecture” of stablecoins. Both Tether (USDT) and Circle‘s USD Coin (USDC) are issued on the network.

Fundstrat's Tom Lee on being named chairman of BitMine Immersion Technologies

BlackRock’s tokenized money market fund (known as BUIDL, which stands for USD Institutional Digital Liquidity Fund) also launched on Ethereum last year before expanding to other blockchain networks.

Tokenization is the process of issuing digital representations on a blockchain network of publicly traded securities, real world assets or any other form of value. Holders of tokenized assets don’t have outright ownership of the assets themselves.

The latest wave of interest in ETH-related assets follows an announcement by Robinhood this week that it will enable trading of tokenized U.S. stocks and ETFs across Europe, after a groundswell of interest in stablecoins throughout June following Circle’s IPO and the Senate passage of its proposed stablecoin bill, the GENIUS Act.

Ether, which turns 10 years old at the end of July, is sitting about 75% off its all-time high.

Don’t miss these cryptocurrency insights from CNBC Pro:

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China’s Honor launches new challenge to Samsung with thin foldable smartphone and a big battery

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China's Honor launches new challenge to Samsung with thin foldable smartphone and a big battery

Honor launched the Honor Magic V5 on Wednesday July 2, as it looks to challenge Samsung in the foldable space.

Honor

Honor on Wednesday touted the slimness and battery capacity of its newly launched thin foldable phone, as it lays down a fresh challenge to market leader Samsung.

The Honor Magic V5 goes will initially go on sale in China, but the Chinese tech firm will likely bring the device to international markets later this year.

The company, which spun off from Chinese tech giant Huawei in 2020, is looking to stand out from rivals with key features of the Magic V5, like artificial intelligence, battery and size.

Honor said the Magic V5 is 8.8 mm to 9mm when folded, depending on the color choice. The phone’s predecessor, the Magic V3 — Honor skipped the Magic V4 name — was 9.2 mm when folded. Honor said the Magic V5 weighs 217 grams to 222 grams, again, depending on the color model. The previous version was 226 grams.

In China, Honor will launch a special 1 terabyte storage size version of the Magic V5, which it says will have a battery capacity of more than 6000 milliampere-hour — among the highest for foldable phones.

Honor has tried hard to tout these features, as competition in foldables ramps up, even as these types of devices have a very small share of the overall smartphone market.

Honor vs. Samsung

Foldables represented less than 2% of the overall smartphone market in 2024, according to International Data Corporation. Samsung was the biggest player with 34% market share followed by Huawei with just under 24%, IDC added. Honor took the fourth spot with a nearly 11% share.

Honor is looking to get a head start on Samsung, which has its own foldable launch next week on July 9.

Francisco Jeronimo, a vice president at the International Data Corporation, said the Magic V5 is a strong offering from Honor.

“This is the dream foldable smartphone that any user who is interested in this category will think of,” Jeronimo told CNBC, pointing to features such as the battery.

“This phone continues to push the bar forward, and it will challenge Samsung as they are about to launch their seventh generation of foldable phones,” he added.

The thinness of a foldable phone has become a battleground for smartphone makers to appeal to consumers who want the large screen size the device has to offer without extra weight.

At its event next week, Samsung is expected to release a foldable that is thinner than its predecessor and could come close to challenging Honor’s offering by way of size, analysts said. If that happens, then Honor will be facing more competition, especially against Samsung, which has a bigger global footprint.

“The biggest challenge for Honor is the brand equity and distribution reach vs Samsung, where the Korean vendor has the edge,” Neil Shah, co-founder of Counterpoint Research, told CNBC.

Honor’s push into international markets beyond China is still fairly young, with the company looking to build up its brand.

“Further, if Samsung catches up with a thinner form-factor in upcoming iterations, as it has been the real pioneer in foldables with its vertical integration expertise from displays to batteries, the differentiating factor might narrow for Honor,” Shah added.

Vertical integration refers to when a company owns several parts of a product’s supply chain. Samsung has a display and battery business which provides the components for its foldables.

Honor talks up AI

Smartphone players, including Honor, have also looked to stand out via the AI features available on their device.

In March, Honor pledged a $10 billion investment in AI over the next five years, with part of that going toward the development of next-generation agents that are seen as more advanced personal assistants.

Honor said its AI assistant Yoyo can interact with other AI models, such as those created by DeepSeek and Alibaba in China, to create presentation decks.

The company also flagged its AI agent can hail a taxi ride across multiple apps in China, automatically accepting the quickest ride to arrive? and cancelling the rest.

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