Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Musk says no deal signed with Telegram despite Grok integration announcement

Musk says no deal signed with Telegram despite Grok integration announcement

CryptoSlateCryptoSlate2025/05/29 11:20
By:Gino Matos

Elon Musk stated on May 28 that xAI had not signed an agreement with Telegram to distribute the Grok large language model, despite Telegram founder Pavel Duvov’s announcement earlier on the same day.

Durov wrote that he and Musk “agreed to a one-year partnership” that would place Grok inside all Telegram applications and give the chat platform “$300 million in cash and equity,” plus half of every Grok subscription sold through Telegram. 

Musk replied hours later on X that “no deal has been signed.” Durov acknowledged the point, saying the two sides had “agreed in principle” while “formalities are pending.” 

Neither party disclosed a target date for completing the final paperwork or launching the project.

Funding push meets corporate goals

Telegram carries more than $1 billion in debt linked to bond issues it floated in 2021 and 2023 to fund operations. 

Durov, who has long financed the company through personal loans, seeks new income streams before a bond maturity next year. 

Under the draft terms, xAI would wire $300 million to Telegram and place an equity stake that both companies declined to quantify. Telegram would also receive a recurring share of Grok fees collected through its in-app purchase channels.

Musk launched xAI last July to train Grok on public data and content licensed from X. The model competes with OpenAI’s ChatGPT, Anthropic’s Claude, and Google’s Gemini

A Telegram integration would give Grok an immediate reach larger than X’s roughly 600 million registered accounts.

Musk closes government participation

Musk’s statement on the unsigned contract arrived as he exited his temporary seat at the US Department of Government Efficiency, known internally as DOGE. 

The White House confirmed on May 28 that the billionaire’s 130-day allotment as a special government employee ends this week. Musk confirmed his departure in a May 28 X post, thanking President Donald Trump for the appointment and reiterating his goal of reducing federal spending.

Musk filled the designation of “special government employee,” which allows him to work a federal job for 130 days each year. Considering Trump’s first day at the White House on January 20, the designation would expire at the end of May.

The post Musk says no deal signed with Telegram despite Grok integration announcement appeared first on CryptoSlate.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!