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Ontario teachers' pension fund bets on SpaceX, with post-IPO holdings potentially soaring to $11.6 billion

According to Forbes, the Ontario Teachers' Pension Plan in Canada is expected to gain substantial returns from the SpaceX IPO. The fund invested approximately $220 million in SpaceX in 2019 when the company's valuation was around $33 billion to $36 billion.If SpaceX goes public as planned at $135 per share, with an estimated valuation of about $1.75 trillion, the shares held by the Ontario Teachers' Pension Plan would rise to approximately $11.6 billion, with potential paper gains exceeding $11 billion. As of the end of 2025, the Ontario Teachers' Pension Plan manages assets of about $279.4 billion, covering 346,000 active and retired teachers.The fund's Chief Investment Officer Gillian Brown previously stated that an IPO does not necessarily mean an exit point, and they may continue to hold shares in the future to see if SpaceX can initiate a new growth cycle after acquiring xAI. Notably, the fund had invested about $95 million in FTX in 2022 and wrote down that investment to zero after FTX's bankruptcy. However, benefiting from strong performances from projects like SpaceX, its venture capital portfolio is still expected to achieve a 30% growth by 2025.Currently, some institutions are cautious about SpaceX's valuation. Morningstar believes its fair valuation is less than half of the IPO target. Based on a $1.75 trillion valuation, Elon Musk's wealth, holding about 41% of the shares, is expected to rise further, potentially making him the world's first trillionaire.

Five departments: Incorporate artificial intelligence into teacher qualification exams and certification content

According to reports from Yicai, the Ministry of Education and four other departments issued the "Artificial Intelligence + Education" Action Plan. It mentions improving the intelligence literacy and skills of a wide range of teachers. Standards for teachers' intelligence literacy will be established, clarifying the artificial intelligence literacy competencies that teachers should possess. Artificial intelligence literacy training will be conducted in a layered and categorized manner based on the needs of different positions, achieving full coverage through various methods. A contextual assessment system will be constructed, and intelligent, gradient assessment tools will be developed, encouraging schools and regions to carry out large-scale assessments of teacher literacy, and to enhance teachers' literacy and capabilities based on assessment results.Promote the reform of teacher training programs by incorporating knowledge of cutting-edge technologies such as artificial intelligence into the curriculum system, updating the knowledge system. Include artificial intelligence in the content of teacher qualification examinations and certifications, and establish intelligent education projects in national and provincial teaching achievement awards to stimulate the endogenous motivation for innovation in artificial intelligence.

The American Federation of Teachers wrote to the Senate, opposing the inclusion of digital assets in the "Cryptocurrency Market Structure Act" for retirement funds

According to The Block, the American Federation of Teachers (AFT) submitted a petition to the U.S. Senate on Monday, calling for the withdrawal of the cryptocurrency market structure bill, warning that the proposal poses "serious risks" to pensions and the broader U.S. economy. In a letter first obtained by CNBC, the union organization pointed out that the Responsible Financial Innovation Act fails to establish adequate regulatory protections against the inherent risks of cryptocurrency assets and stablecoins.AFT President Randi Weingarten wrote in the letter, "This bill not only fails to provide the necessary regulatory measures and common-sense safeguards but also exposes working families—those currently with no connection to cryptocurrency—to economic risks and threatens the stability of their retirement security." The union, representing 1.8 million members, stated that its "fundamental purpose" is to maintain a robust and reliable pension system for retired workers.The main reason for opposing the bill is the concern that it may pave the way for digital assets to enter retirement portfolios, including AFT pensions. Weingarten emphasized that a key concern is that the bill could allow non-crypto companies to tokenize equity through blockchain, thereby circumventing existing securities law regulations. She noted that this could bypass requirements for registration, disclosure, and intermediary oversight, undermining investor protection channels and regulatory accountability mechanisms.Weingarten stated, "This loophole and the erosion of traditional securities law will have catastrophic consequences: even if pensions and 401(k) plans invest in traditional securities, they may ultimately hold unsafe assets." In addition to retirement pensions, the letter also pointed out that the bill lacks sufficient regulatory measures against illegal activities in the crypto market, warning that its loopholes could lay the groundwork for "the next financial crisis."
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