Elon Musk‘s xAI It focuses on the finance sector as it works to enhance its revenues before the initial public offering (IPO) of its parent company, SpaceXBloomberg I mentioned Wednesday (May 13), citing unnamed sources.
The company is looking to sell subscriptions to its chatbot and access to its computing resources, according to the report.
XAI is promoting it Your puppy chatbot as a tool to collect internal company information for performance reviews and to use data from Musk’s social media platform XThe report said.
The company is also focusing on training Grok to work in the financial sector by teaching him to read documents and Excel spreadsheets and handle financial modeling, according to the report.
xAI did not immediately respond to PYMNTS’ request for comment.
It was reported in April that SpaceX was courting banks, lawyers and other advisors who wanted access to the long-awaited company IPO You must subscribe to Grok.
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Some banks have agreed to spend millions on Grok subscriptions and have begun integrating it into their IT systems, according to the report.
SpaceX’s IPO is expected to raise more than $50 billion at a valuation of more than $1 trillion, meaning banks could receive fees of more than $500 million for advising on the listing, according to an April report.
It was reported in March that xAI was hiring bankers and private credit lenders to provide lessons as part of the company’s efforts to make Grok better at making offers. Financial strategies.
The company aims to hire Wall Street bankers, portfolio managers, traders, and credit analysts for the data annotation teams that train the chatbot. These professionals are expected to help your puppy think through things like leveraged syndicated loans and collateralized loan obligations, according to the report.
Other AI startups, including OpenAI and Anthropic, have already provided tools for financial analysts, the March report said.
When XAI announced in January, he accepted acquisition By SpaceX, raised $20 billion in Series E Financing roundThe company said the funding would “accelerate the build of our world-leading infrastructure, enable the rapid development and deployment of transformative AI products that reach billions of users, and support pioneering research that advances xAI’s core mission: understanding the universe.”
