The Unprecedented Catch in Elon Musk’s SpaceX IPO

If banks want to play a role in the company’s upcoming IPO, Musk says they must first fork over millions to subscribe to Grok, his xAI chatbot.

BY KEVIN HAYNES, NEWS WRITER

The most contentious detail of the upcoming SpaceX initial public offering isn’t the rocket science—it’s a mandatory software subscription.

Elon Musk is reportedly requiring the deal’s lead investment banks, law firms, and other advisors to commit tens of millions of dollars to........

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