Previously, Durov announced that Telegram would integrate Grok - a chatbotbotAI - - platform and receive revenue sharing. He stated that the agreement included a cash package and equity worth 300 million USD along with 50% revenue fromRiptions via Telegram.
However, Musk responded briefly on X: "No agreement has been signed." Durov subsequently confirmed that both parties have only reached a "principle agreement" and are waiting are to complete the procedures.
Immediately after the initial announcement, Toncoin - the native Token of the TON network - surged 18.7% to 3.55 USD, but then dropped to 3.35 USD after Musk's correction.
The information about collaboration with xAI was published by Durov shortly after Telegram revealed plans to raise 1.5 billion USD through a new bond issuance. This amount will be used to repurchase debt issued in 2021. According to Wall Street Journal, this offering will open doors for new investors like Citadel and previous investors such as BlackRock and Mubadala (an investment fund owned by Abu Dhabi).
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The article Elon Musk denies 300 million USD agreement between xAI and Telegram first appeared on CoinMoi.
