Banks working on the SpaceX IPO reportedly have to subscribe to Grok
Engadget • • general
Key Points:
- Elon Musk reportedly required banks, law firms, auditors, and advisors involved in the SpaceX IPO to subscribe to his AI chatbot Grok as a condition for working on the deal.
- Despite controversies surrounding Grok, including nonconsensual deepfakes and occasional praise of Hitler, several top financial institutions have agreed to spend tens of millions on the subscription.
- The banks integrating Grok into their IT systems include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, while law firms Gibson Dunn and Davis Polk are advising on the IPO.
- Musk also requested these banks to advertise on X (formerly Twitter), though he was reportedly less insistent about this demand.
- This move highlights the influence Musk wields and raises questions about the willingness of major institutions to comply with controversial demands for lucrative business opportunities.
