Elon Musk is requiring investment banks to purchase subscriptions to his artificial intelligence chatbot Grok as a condition for participating in advisory roles for SpaceX's anticipated initial public offering, according to reports.

The requirement applies to Wall Street firms seeking to work on what could become one of the largest IPOs in history. SpaceX, Musk's private space exploration company, has been the subject of speculation about a potential public offering, though no formal timeline has been announced.

According to reporting, some banks have already agreed to spend tens of millions of dollars on the chatbot subscriptions to secure their positions as potential advisors on the deal. The financial commitment represents an unusual prerequisite for investment banking services.

Grok is an AI chatbot developed by xAI, another company founded by Musk. The chatbot competes with other AI platforms like ChatGPT and is offered through subscription services on Musk's social media platform X, formerly Twitter.

The arrangement highlights Musk's practice of leveraging business relationships across his various companies. Investment banks typically compete for lucrative IPO advisory roles through traditional presentations and fee proposals, making the Grok subscription requirement an unconventional addition to the selection process.

SpaceX has not publicly confirmed details about IPO timing or the bank selection process. The company remains one of the most valuable private companies globally, with previous funding rounds valuing it at over $100 billion.