Telegram and Elon Musk’s company xAI have reached a strategic cooperation agreement. According to Pavel Durov, Telegram plans to integrate the chatbot Grok into the messenger’s apps under a one-year agreement. Durov clarified that the deal has been agreed upon in substance but has not been formally signed. Musk confirmed that the contract is not yet signed.
Terms of the Agreement
Under the terms of the agreement, Telegram will receive $300 million in cash and equity in xAI. Additionally, the messenger will earn 50% of subscription revenues from Grok when subscribed through Telegram. The final integration of the bot is scheduled for this summer.
Grok’s Capabilities Within Telegram
According to a promotional video published by Durov, Grok will be available directly from Telegram’s search bar. Users will be offered:
- threaded conversations in chats.
- intelligent text editing.
- chat summarization.
- document analysis.
- agents for handling incoming messages.
- group chat moderation.
Some users expressed concerns about data privacy. Durov assured that user privacy remains a top priority.
“Grok will only access data that users voluntarily provide during interactions with the bot,” he stated.
Telegram in the Spotlight
Several pieces of Telegram-related news surfaced on May 28. According to The Wall Street Journal, BlackRock is participating in a $1.5 billion bond issuance by Telegram. Additionally, Nikola Plecas, former top crypto executive at Visa, has joined the TON Foundation as Vice President of Payments, and Maximilian Crown, co-founder of MoonPay, has become the new CEO of the organization.
Following the news, Toncoin, Telegram’s supported cryptocurrency token, surged in price to $3.67 — up 20%. According to CoinMarketCap, at the time of writing, TON is trading at $3.30 (+6,4%). Its market capitalization has reached $8.23 billion.
Musk’s Announcement and Tesla Investor Reaction
At the same time, Elon Musk announced that he is stepping down from his role as Special Government Employee under the Donald Trump administration, where he worked on government efficiency issues (D.O.G.E.). Musk also denied any involvement of Dogecoin (DOGE) in government reform efforts.
Following the announcement, Tesla shares rose by 2,15% to $364 in after-hours trading. The day before, shares had dropped 1,65%, closing at $356.90. According to analysts, Musk’s exit from politics reduced investor anxiety about his political involvement affecting Tesla’s core business.
See Also:
- Elon Musk Confirms X Money Launch in Limited Beta Test Mode
- TON's Dead? What’s Wrong with DeFi, GameFi, and Memecoins in the Ecosystem
- Telegram Wallet Launches Crypto Trading and Permanent Earnings on TON Deposits
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