Elon Musk is demanding that banks participating in SpaceX's upcoming IPO purchase subscriptions to his AI startup, Grok. According to the New York Times, five major financial institutions—Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley—are expected to handle the massive offering. These banks stand to earn substantial fees, potentially exceeding $500 million, based on the IPO's projected $50 billion-plus raise at a valuation above $1 trillion. SpaceX's valuation has surged even further, now exceeding $2 trillion per Bloomberg, significantly boosting the banks' potential earnings. Musk's personal stake in Tesla, valued at over $1 trillion, includes a pay package worth $1 trillion if the electric car giant hits an $8.5 trillion market cap.