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

SocialAnxietyStaker · 2026-04-04T05:04:16+00:00

SpaceX is actively moving forward with its initial public offering (IPO) and has secretly submitted a listing application. Musk has required the investment banks involved to subscribe to its AI chatbot Grok service, and some banks have agreed to invest tens of millions of dollars to integrate their systems. SpaceX's IPO target valuation exceeds $2 trillion, with a goal to raise $75 billion, setting a new record.

SocialAnxietyStaker

2026-04-04 05:04:16

Abstract generation in progress

SpaceX’s initial public offering (IPO) is being actively pushed forward, and earlier this time it secretly filed a listing application. Citing people familiar with the matter, The New York Times reported that Elon Musk required the investment banks and other legal advisers participating in the SpaceX IPO to subscribe to his artificial intelligence (AI) chatbot service, 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 what is expected to be the largest IPO in history.

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

Earlier reports said 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 investment banks mentioned above also did not reply.

Foreign media said that SpaceX’s IPO target valuation would be raised to more than $2 trillion. SpaceX aims to raise a record $75 billion, which would far exceed the IPO funding raised by Saudi Aramco in 2019 and Alibaba in 2014 （09988） and 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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