Telegram Partners with xAI for $300M Grok AI Integration Deal
Telegram has partnered with Elon Musk's xAI to integrate the Grok AI service within its app. Key details of the deal include:
- 1-year partnership with a cash and equity investment of $300 million from xAI
- Telegram will receive 50% of revenue from xAI subscriptions sold through the app
- Telegram aims to raise $1.5 billion through a bond offering, backed by BlackRock, Mubadala, and Citadel
- Proceeds will repurchase debt from previous bond issuance in 2021
- Telegram reported 1 billion customers, with a profit of $540 million on $1.4 billion revenue in 2024
- The TON token surged 18.5% in 24 hours, rising from $3.28 to $3.55