Elon Musk has mandated that banks and advisers involved in SpaceX's upcoming IPO purchase subscriptions to his AI chatbot, Grok, The New York Times reports, citing anonymous sources.

This unusual demand underscores Musk's considerable sway over financial institutions eager for the lucrative IPO that's projected to raise over $50 billion.

Despite Grok's controversies, Musk actively promotes it, aiming to bolster its enterprise revenue.

The IPO filing has been submitted, but the lead bank for the deal remains undecided.