Musk requests that SpaceX IPO banks purchase Grok AI subscriptions, according to NYT reports

According to a report by the New York Times on Friday, Elon Musk is mandating that banks and other advisers involved in SpaceX’s upcoming IPO purchase subscriptions to Grok, his artificial intelligence chatbot, as stated by sources familiar with the situation.

According to the report, several banks have committed to investing tens of millions of dollars annually in the chatbot and have started incorporating it into their IT systems.

According to a report from Reuters earlier this week, Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup are acting as active bookrunners, taking the lead in managing the deal.

Musk and SpaceX declined to comment on Reuters’ inquiries.
JPMorgan Chase, Goldman Sachs, Citigroup, and Bank of America chose not to provide a comment. Morgan Stanley has not yet provided a response to inquiries from Reuters.

The rocket manufacturer based in Starbase, Texas, has raised its target initial public offering valuation to over $2 trillion, as reported by Bloomberg News the previous day, paving the way for what may turn out to be the largest stock market listing in history.

The company seeks to achieve a remarkable $75 billion, surpassing previous mega-IPOs like Saudi Aramco in 2019 and Alibaba in 2014.