[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 pushed forward, and it has earlier secretly filed a listing application. Citing sources, The New York Times reports that Musk (Elon Musk) has required the investment banks and other legal advisers participating in the SpaceX IPO to subscribe to his artificial intelligence (AI) chatbot, Grok.

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

SpaceX’s IPO target valuation raised to more than $200 billion

Earlier reports in the market said that Morgan Stanley, Goldman Sachs, JPMorgan Chase, 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 $200 billion. SpaceX aims to raise a record $75 billion, which will far exceed the amounts raised by past IPOs, including 2019 Saudi Aramco and 2014 Alibaba （09988） .

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

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