Elon Musk's unique condition: Bank managing SpaceX's IPO must buy Grok AI

 Elon Musk's unique condition: Bank managing SpaceX's IPO must buy Grok AI


Billionaire entrepreneur Elon Musk has set a unique condition for banks and advisors involved in the public offering (IPO) process of his rocket company 'SpaceX'. According to the New York Times, banks interested in working on SpaceX's IPO will have to subscribe to Musk's AI chatbot Grok.



According to a report published citing a person familiar with the matter, some large banks have agreed to accept this condition and spend hundreds of millions of dollars annually on 'Grok'. These banks have also started integrating this AI chatbot into their internal information technology systems.


According to Reuters, Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup are acting as the main 'book runners' or lead banks for SpaceX's historic IPO.


Elon Musk and SpaceX have not yet made any official comments on the matter. Similarly, banks including JP Morgan, Goldman Sachs and Citigroup have also refused to comment on the matter.


Preparing to become the world's largest IPO


According to Bloomberg News, SpaceX, based in Starbase, Texas, is aiming to raise a record $75 billion through its IPO.


If successful, SpaceX's IPO would become the largest stock offering in history, surpassing Saudi Aramco's IPO in 2019 and Alibaba's IPO in 2014.


Musk has been promoting Grok through his social network X and AI company 'XAI'. Now, making it mandatory in the business deals of his other companies is seen as a unique business strategy.

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