SpaceX merged with Grok's parent company, xAI, back in February, then went public on June 12 at a $1.77 trillion valuation, the largest IPO in history. Retail investors were allotted 30% of the shares, but only after insiders were already sitting on billion-dollar paper gains. Grok didn't just power a chatbot; it helped build the launch vehicle for the biggest debut public markets have ever seen.