TON Shares Fall After Pavel Durov Reveals No Partnership with xAI

No Formal Deal Between xAI and Telegram, Elon Musk Confirms, Causing TON Price Dip

Elon Musk, CEO of xAI, has confirmed that no formal agreement has been signed with Telegram, countering an earlier announcement by Telegram founder Pavel Durov. The clarification weighed on TON (TON), Telegram’s associated token, reversing much of its recent rally.

On Wednesday, Pavel Durov announced a collaboration with xAI to integrate Musk’s AI assistant, Grok, into Telegram’s platform. The deal was expected to include Telegram receiving 50% of the revenue from xAI subscriptions sold on its app, along with a $300 million investment in cash and equity. This initiative aligns with Telegram’s plan to raise $1.5 billion through a bond offering supported by major investors like BlackRock, Mubadala, and Citadel, as previously reported by CoinDesk.

Durov tweeted:

“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 late Wednesday:

“No deal has been signed.”

Following Musk’s statement, TON’s price dropped from $3.60 to $3.28, wiping out much of its 14% intraday gain.

Pavel Durov later commented on X, acknowledging:

“Agreed in principle, but formalities are pending.”

This exchange highlights ongoing uncertainty around the deal, leaving TON investors cautious as the situation develops.

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