Elon Musk insists banks working on SpaceX IPO must buy Grok subscriptions

Elon Musk told banks working on SpaceX's IPO to buy Grok subscriptions.

Five banks led by Bank of America and Morgan Stanley are expected to handle the offering, with Gibson Dunn and Davis Polk advising.

The IPO could raise over $50 billion at a valuation above $1 trillion, and banks may earn over $500 million in fees; Bloomberg reported a possible $2 trillion valuation.