According to 1M AI News monitoring, Musk has required the banks, law firms, audit firms, and other advisory institutions that will participate in SpaceX’s first IPO to purchase Grok subscription services as one of the conditions for taking part in the transaction. Some banks have already agreed to allocate tens of millions of dollars per year toward Grok subscriptions and have started integrating it into their own IT systems and enterprise infrastructure.
In addition to Grok subscriptions, Musk has also previously required these banks to run advertisements on the X platform, though the requirements for the ads are relatively less strict. The Grok subscription requirement is not banks “actively currying favor,” but rather a condition Musk has explicitly insisted on. Banking industry giants that have joined include Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup, among others.
Recently, SpaceX raised its IPO target valuation to more than $2 trillion, and it may even become the largest IPO in history. This has strengthened the participation intent of Wall Street institutions, so Musk’s various conditions have been met with relatively more cooperation.
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