Nonilex20h ago

#ElonMusk has made a particularly bold demand of his #WallStreet advisers ahead of the #IPO of #SpaceX.

#Musk is requiring banks, law firms, auditors & other advisers working on the IPO to buy subscriptions to #Grok, his #AI #chatbot, which is part of SpaceX, acc/to 4 people with knowledge….

Some of the banks have agreed to spend tens of millions on the chatbot, & they have already started integrating Grok into their #IT systems….

#tech #business #law #SEC #antitrust
https://www.nytimes.com/2026/04/03/business/spacex-ipo-grok-elon-musk.html?smid=nytcore-ios-share

Big Banks Seeking a Piece of SpaceX’s I.P.O. Must Subscribe to Elon Musk’s Grok

Mr. Musk is requiring Wall Street firms to purchase subscriptions to his A.I. chatbot if they want to advise on one of the largest initial public offerings in history.

The New York Times
Show threadNonilex20h ago

…Musk’s ability to secure #business from the banks for his #AI #chatbot shows the enormous sway of the world’s richest man over a banking sector clamoring for his business now & into the future.

The banks’ purchases of #Grok subscriptions were not merely good-will gestures, acc/to 3 people with knowledge of the arrangements. #Musk insisted that they purchase the chatbot services. He has also asked the banks to advertise on #X, …but was less adamant about that request, acc/to 2 of those people.

Show threadAnarchic Teapot ⚧️

@Nonilex The "world's richest man" likely owes the banks more than he can repay, as was the situation when he bought Twitter. They're throwing good money after bad.

It is also possible that demanding your creditors buy from (not invest in) a high-risk company you intend to float on the stock market later this year, thereby bumping up the financial results short-term, could be considered a teensy bit illegal. Wouldn't that be fun if someone decided to investigate it?

Apr 3 at 9:18pmWeb
Show threadAnnelies Kamran, Ph.D.14h ago
@anarchic_teapot @roknrol @Nonilex aren't there laws against tied sales? 🤨