Banks and advisers lining up to work on SpaceX's initial public offering (IPO) have been hit with an unusual condition: they must subscribe to Grok, Elon Musk's AI chatbot. Sources tell The New York Times that some banks are already spending tens of millions of dollars on the service, integrating it into their IT systems.

While SpaceX recently filed its IPO paperwork with the Securities and Exchange Commission, the timing is peculiar given that the company only purchased the Grok AI service provider, xAI, two months ago. This purchase came shortly after acquiring the X social network in March 2025.

Grok's journey from a chatbot on X to an essential tool for IPO negotiations raises questions about Musk’s business strategies and the future of AI in corporate settings. However, given the current investigations into Grok for generating sensitive content, it remains to be seen how this requirement will play out.

Musk reportedly also asked banks to advertise on his social media site X but was less forceful with that request. This move highlights a mix of Musk’s ambitious plans and his pragmatic approach to leveraging technology in the business world.