- Elon Musk is promoting his AI-powered chatbot with an IPO. SpaceX.
- Its participants are required to purchase a subscription to Grok, having spent tens of millions of dollars on it.
- The organization plans to raise a record $75 billion through its IPO.
Elon Musk is requiring banks, law firms, and auditors seeking to participate in SpaceX’s upcoming IPO to subscribe to Grok, his AI chatbot. Several Wall Street firms have reportedly already agreed, spending tens of millions of dollars.
Among the largest participants in the SpaceX IPO are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley. International institutions, including the Royal Bank of Canada, Mizuho Financial Group, and Macquarie Group, are also participating in the initial public offering.
Musk also asked banks to advertise on his social media platform, although he was less forthcoming, according to people familiar with the matter.
In February 2026, SpaceX acquired AI developer xAI, acquiring all of its shares, and incorporated the Grok chatbot and the X social network into its corporate structure. At the time of the transaction, xAI was valued at $250 billion. Grok currently ranks fourth in the AI chatbot market, behind ChatGPT by OpenAI, Claude by Anthropic and Gemini from google.
However, Grok may soon be pushed aside by its competitors as Musk literally forces Wall Street to switch to his AI service.
Regarding SpaceX’s upcoming IPO, its target valuation has been set at over $2 trillion. This could become the largest stock market listing in history. intends to attract a record $75 billion, surpassing previous mega-IPOs such as Saudi Aramco in 2019 and Alibaba in 2014.
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