Elon Musk asks SpaceX IPO banks to buy Grok AI subscriptions: report

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Elon Musk Requires Banks to Buy Subscriptions to AI Chatbot for SpaceX IPO

According to the New York Times, Elon Musk is mandating banks and advisers involved in SpaceX’s upcoming IPO to purchase subscriptions to Grok, his artificial intelligence chatbot.

Reportedly, some banks have agreed to invest tens of millions of dollars annually in the chatbot and have started integrating it into their IT systems.

Elon Musk’s SpaceX could set a new record for the largest IPO. AP

Active bookrunners for the IPO include Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup, as reported by Reuters.

Despite requests for comment, neither Musk nor SpaceX responded to inquiries from Reuters.

When contacted for a statement, JPMorgan Chase, Goldman Sachs, Citigroup, and Bank of America declined to comment. Morgan Stanley has yet to reply to queries from Reuters.

SpaceX, based in Starbase, Texas, has raised its target IPO valuation to over $2 trillion, as per a Bloomberg News report, potentially making it the largest stock market listing in history.