Elon Musk denies Telegram's $300M xAI deal 🚫

Elon Musk, the well-known entrepreneur and head of Tesla, announced that no official agreement was made between his AI company, xAI, and Telegram concerning Grok AI's integration. This statement contradicts Telegram CEO Pavel Durov's earlier declaration about a significant partnership. On Wednesday, Durov had revealed plans to integrate xAI's Grok chatbot into Telegram with a $300 million deal, sharing half of the subscription revenue. Musk responded on the platform X, pointing out no deal was finalized, which Durov later admitted, explaining it was only agreed upon in principle. Despite initial excitement, Toncoin (TON) rose nearly 18.7% before declining after Musk's statement. The context of this announcement follows Telegram's strategy to raise $1.5 billion through new bonds, involving fresh and existing investors.