Elon Musk asks SpaceX IPO banks to buy Grok AI subscriptions: Report

Elon Musk is requiring banks and other advisers working on SpaceX's planned IPO to buy subscriptions ⁠to Grok, his artificial intelligence chatbot, the New York Times reported on Friday, citing people familiar with the matter.

Some banks have agreed to spend tens of millions of ⁠dollars a year on the ⁠chatbot and have begun integrating it into their IT systems, the report said.

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Morgan Stanley, Goldman Sachs, JPMorgan Chase , Bank of America and Citigroup are serving as active bookrunners, or the lead banks managing the deal, Reuters reported earlier this week.

Musk and SpaceX did not respond to Reuters' ⁠requests for comment.

JPMorgan Chase and Goldman Sachs declined to comment. Bank of America, Morgan Stanley and Citigroup did not immediately respond to Reuters' queries.

The Starbase, Texas-headquartered rocket maker boosted its target initial public offering valuation above $2 trillion, according to a Bloomberg News report a day earlier, setting the stage for what could become the largest stock market ⁠listing on record.

The company aims to raise ⁠a record $75 billion, which would dwarf previous mega-IPOs such as Saudi Aramco in 2019 and Alibaba in 2014.