[New Stock IPO] Elon Musk reportedly requests to participate in SpaceX IPO investment bank and legal counsel; subscription to Grok service is required

SpaceX’s initial public offering (IPO) is being actively pursued and has already secretly filed a listing application earlier. The New York Times, citing people familiar with the matter, reported that Elon Musk has required the investment banks and other legal advisers involved in the SpaceX IPO to subscribe to his artificial intelligence (AI) chatbot, Grok.

The report said that some investment banks have agreed to spend tens of millions of dollars per year to subscribe to Grok’s services, and have begun integrating it into their information technology systems to ensure they can participate smoothly in this largest IPO in history.

SpaceX’s IPO target valuation raised to more than $2 trillion

Earlier, it was reported that Morgan Stanley, Goldman Sachs, JPMorgan, Bank of America, and Citigroup are serving as the lead underwriters for the SpaceX IPO. Musk and SpaceX did not respond, and the five banks mentioned above also did not reply.

Foreign media said that SpaceX’s IPO target valuation will be raised to more than $2 trillion, and that SpaceX aims to raise a record $75 billion—far exceeding the IPO capital-raising amounts of Saudi Aramco in 2019 and Alibaba in 2014 （09988） , among other past deals.

To further integrate its business ecosystem, SpaceX completed an asset merger with xAI in early 2026, making Grok officially a core part of SpaceX’s business landscape.

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