Elon Musk Requires Banks Behind SpaceX IPO To Buy Grok Subscriptions: NYT
Some banks are spending tens of millions a year on Grok and integrating it into their systems to win SpaceX IPO roles, the report said.
- On Friday, The New York Times reported that Elon Musk is requiring banks and advisers managing the upcoming SpaceX IPO to purchase subscriptions to his artificial intelligence chatbot, Grok.
- SpaceX, the Texas-headquartered rocket maker, recently boosted its target valuation above $2 trillion, aiming to raise a record $75 billion, which would dwarf previous mega-IPOs like Saudi Aramco and Alibaba.
- Serving as active bookrunners for the deal are Morgan Stanley, Goldman Sachs, JPMorgan Chase, and Citigroup, alongside international firms including Royal Bank, Mizuho Financial Group, and Macquarie Group.
- Some banks have already agreed to spend tens of millions of dollars annually on Grok, integrating the chatbot into their IT systems as a mandatory condition for participating in the offering.
- The company recently filed confidentially for its IPO with the Securities and Exchange Commission, though JPMorgan Chase and Goldman Sachs declined to comment on the new subscription requirement.
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Elon Musk asks SpaceX IPO banks to buy Grok AI subscriptions to join $2 trillion IPO, NYT reports - Tech Startups
Elon Musk is pushing deeper into AI—and this time, he’s tying it directly to one of the most anticipated IPOs in history. Banks lining up to help take SpaceX public are being asked to do more than structure the deal. […] The post Elon Musk asks SpaceX IPO banks to buy Grok AI subscriptions to join $2 trillion IPO, NYT reports first appeared on Tech Startups.
Elon Musk Demands Banks Working on SpaceX IPO Subscribe to His Grok AI Chatbot
Elon Musk is demanding that the banks handling the upcoming initial public offering (IPO) of SpaceX subscribe to his Grok artificial intelligence (AI) chatbot.End of Quarter Sale – 50% Off TipRanks The New York Times (NYT) is reporting that Musk, who is CEO of both SpaceX and electric vehicle maker Tesla (TSLA), is demanding that banks such as Morgan Stanley (MS), Goldman Sachs (GS), and JPMorgan Chase (JPM) buy subscriptions to Grok, the AI cha…
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