Telegram’s Pavel Durov Clarifies That TON Has Not Signed Any xAI Agreement

Elon Musk Denies Formal xAI Partnership with Telegram, TON Token Falls

Elon Musk, CEO of xAI, dismissed claims on Wednesday that a signed deal exists between xAI and Telegram, contradicting an earlier statement from Telegram founder Pavel Durov. The clarification caused TON (TON), the cryptocurrency linked to Telegram, to retreat from its earlier gains.

Pavel Durov had announced a collaboration to bring Musk’s AI assistant, Grok, to Telegram users, with terms reportedly granting Telegram 50% of revenue from xAI subscriptions through its platform, along with a $300 million investment in cash and equity. This initiative is part of Telegram’s broader strategy to raise $1.5 billion in a bond offering supported by investors like BlackRock, Mubadala, and Citadel, according to prior CoinDesk reports.

Durov’s tweet read:

“This summer, Telegram users will gain access to the best AI technology on the market. @elonmusk and I have agreed to a 1-year partnership to bring xAI’s @grok to our billion+ users and integrate it across all Telegram apps 🤝”

However, Musk responded later Wednesday, stating:

“No deal has been signed.”

In the wake of Musk’s response, TON’s price fell from $3.60 to $3.28, wiping out much of the 14% intraday rally.

Durov later posted on X that while the deal was agreed in principle, formal paperwork is still pending.

This back-and-forth highlights ongoing uncertainty around the potential partnership, leaving TON investors cautious as the situation develops.