Billionaire Elon Musk¡¯s xAI has recruited multiple Wall Street firms with ties to his business empire to test its Grok chatbot, according to people familiar with the matter, part of a push to bolster revenue ahead of parent company SpaceX¡¯s initial public offering.
Apollo Global Management and Morgan Stanley have begun using Grok internally alongside software from other AI model makers, said the people, who spoke on condition of anonymity as the information is not public. Valor Equity Partners is also using Grok, the people said. Despite some banks signing up for Grok, financiers are rarely using the chatbot for work, some of the people said.
Musk¡¯s artificial intelligence venture is moving with urgency to boost revenue by selling chatbot subscriptions and access to its computing resources before SpaceX¡¯s expected IPO next month. Much of xAI¡¯s sales to date have come from deals with Musk¡¯s other ventures, including SpaceX and Tesla, and its tools are widely viewed as inferior to those of rivals OpenAI and Anthropic PBC for the finance industry. In the runup to its merger with SpaceX, xAI was burning through almost $1 billion per month.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.