Banks handling SpaceX's IPO have to buy Grok subscriptions
04 Apr 2026
Elon Musk is ordering banks and other advisers involved in SpaceX's upcoming IPO to subscribe to Grok, his AI chatbot.
The New York Times reported this, citing sources familiar with the matter.
Some of these banks have already agreed to spend millions on the chatbot and are integrating it into their IT systems.
Banks involved in SpaceX's IPO
Bank participation
The leading banks managing the SpaceX IPO deal are Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup. However, neither Musk nor SpaceX has commented on this matter yet.
SpaceX targets over $2T valuation in IPO
IPO aspirations
SpaceX, headquartered in Starbase, Texas, has raised its target IPO valuation to over $2 trillion.
This puts it on track for what could be the biggest stock market listing ever.
The company hopes to raise a record-breaking $75 billion through this process. If successful, this would surpass previous mega-IPOs such as Saudi Aramco in 2019 and Alibaba in 2014.
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