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The Discord app is seen on an iPhone in this photo illustration in Warsaw, Poland on April 3, 2021.

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We’ve been here and done this before when it comes to social media: a new, fast-growing app is providing a way for online users to share inspiration and encouragement. At some point in most social media companies’ histories, dating all the way back to Facebook’s role in global “democratization” during Arab Spring, early social media success has been focused on positive effects.

The world has come a long way since Arab Spring and through many reckonings with both the benefits and risks of social media, including the potential health and wellness impacts on teenagers. Seattle Public Schools’ recently filed lawsuit against TikTok, Meta, Snap and others alleging a youth mental health crisis caused by social media.

Social media is also facing one of its greatest legal challenges ever, with the Supreme Court poised to review whether Section 230 statute of the Communications Decency Act should provide these companies with immunity from user content liability claims, as has been the case throughout their rise.

So there is good reason for the next big thing in social media to be all about positivity, and here we are again, with social media company Discord announcing the acquisition of Gas this week, a quickly growing social media company designed to promote positive affirmations.

“Gas is all about uplifting and empowering each other through positive affirmations. Its tremendous success shows the opportunity that exists in creating a playful yet meaningful place for young people,” Discord stated in a blog post about the deal. Terms of the deal were not disclosed.

Gas allows users to anonymously share compliments with one another via polls, or as TheVerge noted in a report on the deal, “The app is designed for anonymous compliments and positive affirmations or, as kids say, gassing your friends up.”

The app has gained increasing popularity among teenagers. In just two months since its August launch, Gas surpassed TikTok and BeReal in Apple’s App Store free app rankings, reaching 1 million daily active users. It was crowned as “the hottest app right now” by The Wall Street Journal. It boasted 30,000 new users per hour in October.

Gas already has had its early issues — it was caught up, unfairly, in a sex trafficking hoax this fall, which forced its founder to respond after three percent of users deleted their accounts.

But Gas has continued to grow as a place for teens to engage with peers, amassing 7.4 million installs.

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If you have not heard of Gas, it did not come out of nowhere. Its founder Nikita Bier previously sold tbh, another poll-based app, to Facebook in 2017, but the app was shut down in less than a year due to low usage. Nonetheless, Discord said in the blog post that “Gas’ founders have a proven track record of creating exciting apps and experiences.”

Snapchat’s platform has feature multiple anonymous polling apps, including Yolo and LMK, where users can ask questions to their friends who can then answer anonymously — and also turned out to be far from immune to abuse. Last year, Snap banned anonymous messaging apps.

While anonymous features can pose a specific form of risk to user safety and increase harassment, Gas says it avoids these obstacles by polls consisting of Gas-approved compliments. These compliment prompts prevent users from creating their own polls or sending direct messages, which could include harmful content.

Gas itself explains in its app description that, “Gas is where friends tell you what they love about you. And no, they won’t dunk on you like other anonymous apps. How it works: 1) Join your school 2) Add friends 3) Answer polls 4) Get flames when picked.”

Discord has had its own share of safety issues associated with its success among a younger demographic, with increasing harassment reports on the platform in recent years. The company has been investing heavily to combat this problem, acquiring Sentropy, an AI-based software company focused on fighting abuse and harassment online. Its latest transparency report, published in December 2022, the company said it had disabled 42,458 accounts and removed 14,451 servers for child safety violations during the third quarter of 2022, a 92% decrease in the number of accounts disabled when compared to the previous quarter. 

Entering the social app scene in 2015 as a platform for video game players to chat with one another, Discord has been expanding beyond its roots as an alternative to spotty Skype chats for gamers. The two-time CNBC Disruptor 50 company, has moved beyond its predominately gaming-based uses, with a more general use case voice chat platform and live stream capabilities, while also allowing users to monetize their servers.

As social audio boomed, Discord released Stage channels in 2021, giving users a new way to organize and host large audio events. In July, it released Threads, a way to branch a conversation off of a channel’s main feed without removing it from the channel. The company also has premium membership features, allowing creators and community owners to require a subscription to access all or part of their server, tiered perks, and view analytics on member engagement.

Microsoft was reported to have made a bid for the company at one point, though no deal was reached.

Discord, unlike the first generation social media giants, does not make money from advertisements, and that gives it something else in common with Gas beyond a focus on a younger demographic. Gas has gained its almost $7 million in user spending through paid subscription features like “God Mode” which provides users with hints on who gave them compliments.

For the time being, Gas will operate as a standalone app, but this doesn’t rule out the potential for polls to become a new method of communication on Discord.

“We’re always working to create an inclusive world where no one feels like an outsider and we’re excited to welcome Gas to the Discord community as our next step to fulfilling that vision,” Discord said in the blog post.

One of the toughest tasks the companies will find, as many social media apps have before — keeping the story positive.

CNBC is now accepting nominations for the 2023 Disruptor 50 list – our 11th annual look at the most innovative venture-backed companies. Learn more about eligibility and how to submit an application by Friday, Feb. 17.

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SoftBank Group shares plunge over 9% as Asian tech stocks decline

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SoftBank Group shares plunge over 9% as Asian tech stocks decline

The logo of Japanese company SoftBank Group is seen outside the company’s headquarters in Tokyo on January 22, 2025. 

Kazuhiro Nogi | Afp | Getty Images

Shares of SoftBank Group plunged as much as 9.17% Wednesday, as technology stocks in Asia declined, tracking losses in U.S. peers overnight.

The Japanese tech-focused investment firm saw shares drop for a second consecutive session, following its announcement of a $2 billion investment in Intel. Intel shares rose 6.97% to close at $25.31 Tuesday stateside.

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Other Japanese tech stocks also declined, with semiconductor giant Advantest falling as much as 6.27%. Meanwhile, shares in Renesas Electronics and Tokyo Electron were last seen trading 2.46% and 0.75% lower, respectively.

Technology companies in South Korea, Taiwan and Hong Kong, also fell after U.S. tech stocks dropped overnight spurred by declines in artificial intelligence darling Nvidia‘s shares.

U.S. Commerce Secretary Howard Lutnick is considering the federal government taking equity stakes in semiconductor companies that get funding under the CHIPS Act for building plants in the U.S, sources familiar with the matter told Reuters. The U.S. CHIPS and Science Act seeks to boost the country’s semiconductor industry, scientific research and innovation.

Shares of Taiwanese chip company TSMC and manufacturer Hon Hai Precision Industry — known globally as Foxconn — declined 1.69% and 2.16%, respectively. TSMC manufactures Nvidia’s high-performance graphics processing units that help power large language models, while Foxconn has a strategic partnership with Nvidia to build “AI factories.” 

Meanwhile, South Korean tech stocks mostly fell with shares of chipmaker SK Hynix down 3.33%. Samsung Electronics, however, rose 0.75%.

TSMC, Samsung and SK Hynix are among companies that have received funding under the CHIPS Act.

Over in Hong Kong, the Hang Seng Tech index lost 0.87% in early trade.

The worst performing stocks on the index were Kuaishou Technology which declined 4.8%, JD Health International which dropped 3.31% and Horizon Robotics which lost 2.29%.

Losses were also seen tech majors Alibaba Group, down 1.44%, and Xiaomi Corp which lost 1.34%.

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Palantir stock slumps 9%, falling for a fifth straight day from record

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Palantir stock slumps 9%, falling for a fifth straight day from record

CEO of Palantir Technologies Alex Karp attends the Pennsylvania Energy and Innovation Summit on the campus of Carnegie Mellon University in Pittsburgh, Pennsylvania on July 15, 2025.

Andrew Caballero-reynolds | Afp | Getty Images

Palantir‘s stock slumped more than 9% on Tuesday, falling for a fifth straight day to continue its pullback from all-time highs.

The artificial intelligence software provider’s stock has slid more than 15% over the last five trading sessions, after a stellar earnings report earlier this month propelled shares to all-time highs. The report was Palantir’s first-ever $1 billion revenue quarter.

Tuesday’s dip coincided with a broader market pullback.

Palantir is the most significant gainer to date in the S&P 500 in 2025, up more than 100%.

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Shares have more than doubled as the company benefits from ongoing AI enthusiasm, scooping up government contracts with President Donald Trump pushing to overhaul agencies.

Palantir’s ascent has pushed the company into a list of top 10 U.S. tech firms and 20 most valuable U.S. companies, while also making shares incredibly expensive to own. Its forward price-to-earnings ratio, which tracks future earnings relative to share price, has soared past 245 times.

By comparison, technology giants such as Microsoft and Apple carry a P/E of nearly 30 times and rake in significantly greater quarterly revenues. Meta‘s and Alphabet‘s P/E ratios hover in the 20s.

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Databricks says it’s valued at over $100 billion in latest funding round

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Databricks says it's valued at over 0 billion in latest funding round

Ali Ghodsi, CEO of Databricks speaks on CNBC.

CNBC

Databricks has just entered an exclusive club.

The data analytics software vendor said Tuesday that it’s raising a funding round that values the company at over $100 billion. That would make Databricks just the fourth private company to eclipse the $100 billion mark, following SpaceX, ByteDance and OpenAI, according to data from CB Insights.

Databricks CEO Ali Ghodsi told CNBC’s Brian Sullivan that the total round will exceed $1 billion. The company was last valued by private investors at $62 billion in a $10 billion financing round late last year.

In June, Databricks executives told investors the company was forecasting $3.7 billion in annualized revenue by July, with 50% year-over-year growth.

Snowflake, one of Databricks’ top rivals, is expected to generate $4.5 billion in revenue for the fiscal year that ends in January, representing annual growth of 25%, according to LSEG. Snowflake currently has a market cap of about $65 billion. Other competitors include cloud providers such as Amazon and Microsoft, which are also Databricks partners.

Ghodsi said he heard from a lot of interested investors following Figma’s IPO late last month. Shares of the design software company more than tripled in their New York Stock Exchange debut, a sign that public investors are seeking out tech offerings after in extended lull in the IPO market.

“My phone was blowing up,” Ghodsi said on Tuesday. “So yes, there’s definitely been a big push from outside.”

Figma shares have since retreated from their initial $115.50 closing price. The stock is trading at about $70, still more than double the $33 IPO price.

Ghodsi said the round will help Databricks invest in products that clients can tap when using artificial intelligence models.

Founded in 2013 and based in San Francisco, Databricks ranked third on CNBC’s 2025 Disruptor 50 list. As of June, the company employed 8,000 people. Existing investors Andreessen Horowitz, Insight Partners Thrive Capital and WCM Investment Management are buying shares, a spokesperson said.

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Databricks CEO on AI: VCs are wondering if agentic AI will actually automate work

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