Breaking: Telegram Partners with Elon Musks’s xAI, TON Price Jumps 23%

In a strategic collaboration, Telegram has inked a lucrative deal with Elon Musk’s xAI to distribute its innovative Grok AI platform to the messaging app’s vast user base. While this marks a major move in Telegram’s vision of AI innovation, the TON price is surging and is up by 23%.

Telegram Enters into a One-Year xAI Deal: What It Means?

Building on earlier discussions, Telegram CEO Pavel Durov has finalized a one-year partnership with tech billionaire Elon Musk’s xAI. As announced by Durov, Telegram will get $300 million in cash and equity from xAI, plus 50% of revenue from subscriptions sold through its platform. His X post read,

Telegram will receive $300M in cash and equity from xAI, plus 50% of revenue from xAI subscriptions sold via Telegram. Together, we win.

Notably, this strategic deal comes on the heels of a $.15 billion funding that Telegram received through a BlackRock, Mubadala-backed bond issue. Amid this development, Durov hinted at upcoming ‘good news’, which seems likely to be this xAI partnership.

Driven by this significant milestone, the TON price surged by nearly 20% to reach a monthly high of $3.67. The 24-hour trading volume surged by 243%, hitting $487 million.