🧠 Food for thought

Implications, context, and why it matters.

A $1.25 trillion SpaceX and xAI tie-up helped drive Mirae’s valuation jump

• Mirae’s valuation rise followed reports that SpaceX acquired xAI, valuing the combined company at about $1.25 trillion 1.
• In South Korea, Mirae Asset Securities climbed after Bloomberg reported SpaceX and xAI were in “advanced talks” and Elon Musk replied “Yes” to a post about the report; analysts linked the reaction to a sharp one-day move in the shares 2.
• Between 2022 and 2023, Mirae Asset Group put a total of $278 million into SpaceX, which set the stage for later markups 2.
• Over a little more than a month, Mirae Asset Securities’ market value rose to more than 30 trillion won ($22.3 billion), with investors expecting gains from holdings such as SpaceX and xAI to flow into earnings 2.

Mirae leans more on its own investments, with a push into crypto deals

• The latest results track a move toward earning more from the firm’s own bets, including unlisted companies (firms whose shares don’t trade on public stock exchanges), rather than depending mainly on brokerage fees 3.
• Mirae Asset Financial Group is in talks to buy Korbit, South Korea’s fourth-largest cryptocurrency exchange, in a deal estimated at up to 140 billion won ($97.5 million) 4.
• CNBC uses the term “Muskonomy” for the financial web around Elon Musk’s companies, where public markets can react to activity inside privately held ventures 5.
• Tesla put $2 billion into xAI in a funding round before SpaceX acquired xAI, which shows cash moving across Musk-linked businesses 1.