Musk Forces SpaceX IPO Banks to Buy Grok

Elon Musk is requiring banks advising on SpaceX's planned IPO to purchase subscriptions to his Grok AI chatbot, the New York Times reported. Some banks, including Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup, have agreed to spend tens of millions of dollars annually on the service and are integrating it into their systems. SpaceX recently raised its target IPO valuation above $2 trillion and aims to raise a record $75 billion, which would surpass previous mega-IPOs including Saudi Aramco in 2019 and Alibaba in 2014.