Elon Musk's artificial intelligence startup, xAI, has enlisted several Wall Street firms with ties to his business empire, including Morgan Stanley and Apollo Global Management, to internally test its Grok chatbot. This move is part of a broader strategy to increase revenue by pushing into the financial sector ahead of the anticipated initial public offering of its parent company, SpaceX.
Despite the trials, sources report that financiers are rarely using the chatbot for their work. The firms involved, which also include Valor Equity Partners, are reportedly using Grok alongside AI software from other developers. This push follows earlier reports that banks wanting to work on the lucrative SpaceX IPO were required to purchase Grok subscriptions.