Musk’s $1.25 trillion merger is either a bailout or a moat - possibly both 👨‍🚀🤖; PicPay’s $2.5B IPO reopens the Brazil-to-NYSE pipeline 🔔🇧🇷

FinTech is Eating the World, 3 February

Hey Everyone,

Good morning & happy Tuesday! Today, all eyes are on SpaceX, which officially acquired xAI to create space & AI powerhouse (what it’s all about, why it matters & what’s next + deep dive into Musk’s ambitions to create a closed-loop economy no bank can touch), and PicPay that just raised $434 million at a $2.5 billion valuation, marking the first major Brazilian IPO in New York since Nubank (key details, what happened & what to expect next + bonus deep dive into PicPay, their financials and whether it’s worth your time & moeny). So let’s jump straight into the good stuff 🌶️

Musk’s $1.25 trillion merger is either a bailout or a moat - possibly both 👨‍🚀🤖

The BIG News 🗞️ Elon Musk just negotiated the largest private acquisition in history with himself - SpaceX officially acquired artificial intelligence startup xAI for $250 billion to create a $1.25 trillion space and AI powerhouse.

The cynical read is obvious. The interesting question is whether that’s the complete story.

Let’s unpack this, understand why it matters, and what’s next.