Banks chasing SpaceX IPO were told by Elon Musk to buy Grok subscriptions

Elon Musk told banks and advisers working on SpaceX’s IPO to buy subscriptions to Grok, xAI’s chatbot.

Some banks agreed to spend tens of millions on Grok and began integrating it into their IT systems.

SpaceX has filed confidential IPO papers with the U.S. SEC as five major banks are expected to take part, and Starlink reported about $8 billion in 2024.