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Elon Musk’s xAI Plans to Invest USD300M into Telegram
(MENAFN) Elon Musk’s artificial intelligence venture, xAI, plans to invest $300 million and roll out its Grok AI chatbot through a collaboration with the popular messaging platform Telegram, according to a statement issued Wednesday by Telegram CEO Pavel Durov.
Durov revealed the partnership involves a one-year agreement aimed at bolstering Telegram’s financial stability.
“We will receive $300M in cash and equity from xAI, plus 50% of the revenue from xAI subscriptions sold via Telegram,” he stated.
However, Musk posted on X that “no deal has been signed,” offering no further clarification. In response, Durov explained that while a formal contract is still pending, both parties have reached an agreement in principle.
Telegram confirmed that Grok AI will be embedded into its platform, allowing users to start accessing the AI-powered tool later this summer. The chatbot will be integrated directly within the app, enabling users to generate content and hold wide-ranging conversations on various topics.
Durov revealed the partnership involves a one-year agreement aimed at bolstering Telegram’s financial stability.
“We will receive $300M in cash and equity from xAI, plus 50% of the revenue from xAI subscriptions sold via Telegram,” he stated.
However, Musk posted on X that “no deal has been signed,” offering no further clarification. In response, Durov explained that while a formal contract is still pending, both parties have reached an agreement in principle.
Telegram confirmed that Grok AI will be embedded into its platform, allowing users to start accessing the AI-powered tool later this summer. The chatbot will be integrated directly within the app, enabling users to generate content and hold wide-ranging conversations on various topics.
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