Elon Musk has mandated that banks, law firms, and advisory institutions involved in SpaceX's IPO subscribe to Grok, a condition for their participation. Major banks, including Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup, have committed to spending millions annually on Grok subscriptions and are integrating the service into their systems.
This requirement comes as SpaceX raises its IPO valuation target to over $2 trillion, potentially marking it as the largest IPO in history. The substantial valuation has increased Wall Street's eagerness to comply with Musk's conditions, including the less stringent demand for advertising on X.
Musk Mandates Grok Subscriptions for SpaceX IPO Participants
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