Toncoin (TON) Jumps 18.5% as Telegram Partners with xAI to Integrate Grok AI
Telegram has secured a $300 million deal with Elon Musk’s xAI to integrate the Grok AI service into its messaging platform. The one-year partnership includes cash, equity, and 50% revenue share from xAI subscriptions sold via Telegram. "Together, we win!" declared Telegram founder Pavel Durov.
The announcement coincides with Telegram’s plans to raise $1.5 billion through a bond offering backed by institutional heavyweights like BlackRock and Citadel. Proceeds will refinance debt from its 2021 bond issuance.
Telegram, boasting 1 billion users, reported robust 2024 financials with $540 million profit on $1.4 billion revenue. The TON token, native to Telegram’s blockchain network, surged 18.5% pre-announcement, climbing from $3.28 to $3.55 post-reveal.
