Elon Musk insists banks working on SpaceX IPO must buy Grok subscriptions
Some banks "agreed to spend tens of millions on the chatbot," NYT reports.
Banks and other firms that want to work on SpaceX's initial public offering (IPO) are being required to buy subscriptions to the Grok AI service, The New York Times reported today. Elon Musk "is requiring banks, law firms, auditors and other advisers working on the IPO to buy subscriptions to Grok, his artificial intelligence chatbot that is part of SpaceX," the NYT wrote, citing anonymous sources who are familiar with the confidential negotiations. "Some of the banks have agreed to spend tens of millions on the chatbot and they have already started integrating Grok into their IT systems." SpaceX reportedly filed IPO paperwork with the Securities and Exchange Commission this week. The IPO filing came two months after SpaceX purchased xAI, the Musk company that produces Grok. xAI purchased the X social network in March 2025.Read full article Comments
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