Telegram and X have not yet actually signed a deal that would bring xAI’s Grok to Telegram, despite Telegram’s Pavel Durov announcing it earlier Wednesday, putting sell pressure on TON’s recent rally.
The deal would see Telegram receive 50% of the 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 backed by BlackRock, Mubadala, and Citadel, CoinDesk previously reported.
🔥 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.
