A deal that would bring xAI’s Grok to Telegram has apparently not been signed, despite prior reporting, putting sell pressure on TON’s recent rally.
The deal would see Telegram get 50% of revenue from xAI subscriptions sold via its platform, along with $300 million in cash and equity, as the messaging giant looks to raise $1.5 billion via a bond offering that is being backed by the likes of BlackRock, Mubadala, and Citadel.
🔥 This summer, Telegram users will gain access to the best AI technology on the market. @elonmusk and I have agreed to a 1-year partnership to bring xAI’s @grok to our billion+ users and integrate it across all Telegram apps 🤝
💪 This also strengthens Telegram’s financial… pic.twitter.com/ZPK550AyRV
— Pavel Durov (@durov) May 28, 2025
“No deal has been signed,” xAI CEO Elon Musk posted late Wednesday in response to the Telegram founder’s announcement.
TON, a token associated with Telegram, dropped from $3.60 to $3.28 in the moments after the tweet. The token had been on a rally in the hours after the announcement, previously up 14% on-day, according to CoinDesk market data.
Telegram’s Pavel Durov later posted on X that Musk’s statement was true.
“Agreed in principle, but formalities are pending,” he wrote.
UPDATE (May 28, 23:17 UTC) Updates price information, statement from Durov.
www.coindesk.com
#Pavel #Durov #Confirms #xAI #Deal #Pending
