Musk Refutes Reports of Formal Partnership Between xAI and Telegram
Elon Musk, the CEO of xAI and founder of Tesla and SpaceX, has publicly contradicted Telegram CEO Pavel Durov’s claim about a $300 million partnership deal between xAI and Telegram.
“No deal has been signed,” Musk stated in a direct response on X (formerly Twitter) to Durov’s announcement.
This came shortly after Telegram’s founder revealed that the messaging giant had reached a $300 million cash-and-equity agreement with xAI to integrate the Grok AI chatbot across its social platform. The deal was also expected to include a 50% revenue share from xAI subscriptions made through Telegram.
Telegram CEO Clarifies: Agreement Only ‘In Principle’
Following Musk’s public denial, Durov confirmed that the partnership was not finalized but said an agreement had been reached in principle. The misunderstanding stirred confusion across both tech and crypto markets.
“Final documentation is still pending,” Durov clarified.
This update triggered a swift correction in the crypto market. Toncoin (TON) — Telegram’s native token — had surged by 18.7% to $3.55 after the announcement, only to drop to $3.35 after Musk’s contradiction.
Telegram’s Broader Fundraising Strategy in Focus
The back-and-forth occurred just as Telegram announced plans to raise $1.5 billion via a new bond issuance, intended to repurchase debt from a previous 2021 offering. This strategic move is expected to attract major institutional investors including Citadel, BlackRock, and Mubadala.
The new funding round could bolster Telegram’s financial foundation ahead of any future AI integration or expansion.
Implications for xAI, Telegram, and AI Adoption in Messaging
This episode underscores the growing interest in embedding AI tools like Grok into social platforms, but also highlights the importance of transparent communications when high-profile names like Musk are involved.
The market response to the Grok integration news shows the powerful influence of AI-related announcements — even those not fully finalized.
Conclusion
While no binding agreement currently exists, the potential collaboration between xAI and Telegram remains on the table. Investors and users alike will be watching closely for any confirmed developments.
Until then, market speculation — and token volatility — are likely to continue.