Telegram Strikes $300M Partnership With Elon Musk’s xAI To Integrate Grok Chatbot, Toncoin Jumps

Telegram founder Pavel Durov announced the agreement on X, stating that the one-year deal includes a $300 million payment from xAI, comprising a mix of cash and equity.
The xAI and Grok logos are seen in this illustration photo taken on 05 November, 2023 in Warsaw, Poland. (Photo by Jaap Arriens/NurPhoto via Getty Images)
The xAI and Grok logos are seen in this illustration photo taken on 05 November, 2023 in Warsaw, Poland. (Photo by Jaap Arriens/NurPhoto via Getty Images)
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Prabhjote Gill·Stocktwits
Updated Jul 02, 2025 | 8:31 PM GMT-04
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Telegram has signed a $300 million partnership with Elon Musk’s xAI to integrate the Grok chatbot into its messaging platform, boosting expectations of AI-driven features for its 800 million active users and sparking a rally in Toncoin (TON).

Telegram founder Pavel Durov announced the agreement on X, stating that the one-year deal includes a $300 million payment from xAI, comprising a mix of cash and equity. 

Telegram will also receive 50% of subscription revenue from Grok sold within its app. “Together, we win!” Durov wrote.

Toncoin, the native token of the TON blockchain originally developed by Telegram, surged more than 16% in the past 24 hours to a high of $3.67. The token is used for transactions, staking, and governance across the TON ecosystem, currently managed by an independent foundation

Meanwhile, the Grok meme coin, which has no formal affiliation with xAI or functional utility, edged 0.7% higher in the past day.

Telegram is currently pursuing a $1.5 billion bond issue backed by major investors, including BlackRock, Mubadala, and Citadel. The capital will be used to refinance debt from its 2021 bond issuance.

Telegram reported $1.4 billion in revenue and $540 million in profit for 2024. The company now counts more than one billion registered users globally.

The integration of Grok could enable Telegram to compete more directly with other platforms that utilize OpenAI’s ChatGPT, while also aligning the app with Web3 tools such as crypto wallets and decentralized applications.

Toncoin’s price remains down 46% over the past year and trades roughly 59% below its June 2024 peak of $8.25. Grok’s meme coin is down 81% over the same period.

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