Elon Musk requires SpaceX's initial IPO participants to subscribe to Grok and integrate it into their own systems.
According to 1M AI News monitoring, Musk requires banks, law firms, auditing firms, and other advisory institutions participating in SpaceX's first IPO to purchase Grok subscription services as one of the conditions for involvement in the deal. Some banks have already agreed to invest tens of millions of US dollars per year in Grok subscriptions and have begun integrating it into their IT systems and corporate infrastructure.
In addition to the Grok subscription, Musk has also asked these banks to advertise on the X platform, but the requirements for advertising are relatively less stringent. The Grok subscription requirement is not a gesture of goodwill by the banks but a condition that Musk insists on. Major participating banks include Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup.
SpaceX has recently raised its IPO target valuation to over 2 trillion US dollars and may even become the largest IPO in history. This has strengthened the interest of Wall Street institutions in participating, so they are relatively cooperative with many of Musk's conditions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ-Moderna shares rise after raising annual revenue growth forecast
US November Michigan consumer sentiment exceeds expectations, rises to three-month high; independent voters' confidence increases, inflation expectations improve
The preliminary November Consumer Sentiment Index from the University of Michigan rose to 51 from 48 in October, surpassing the market's expectation of 48. This improvement was mainly concentrated among independent voters, whose consumer confidence reached a one-year high. About 57% of respondents proactively mentioned that high prices are affecting their standard of living, the highest percentage since May. Consumers expect prices to rise by 4.3% over the next year, the lowest level in three months.
Crypto prices
More
