Telegram Reveals Collaboration with Musk
(MENAFN) Elon Musk’s artificial intelligence venture, xAI, is planning to allocate USD300 million in a strategic collaboration with the messaging platform Telegram.
Based on a recent announcement from Telegram’s CEO, Pavel Durov, the funds will support the deployment of xAI’s chatbot, Grok, directly within the Telegram app.
This partnership marks a significant move aimed at enhancing Telegram’s financial foundation.
Durov explained that the one-year alliance with Musk is intended to bolster Telegram’s economic standing.
“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 later commented on his social platform, X, that “no deal has been signed,” offering no further clarification.
This prompted Durov to emphasize that while a formal contract has yet to be finalized, the parties had reached a mutual understanding in principle.
According to Telegram, Grok AI is anticipated to be incorporated into the platform, with features becoming accessible to users starting this summer.
The AI system will allow users to interact through an embedded chatbot, enabling them to produce content or engage in in-depth discussions on a diverse array of subjects, all within the Telegram environment.
This collaboration emerges as Telegram works to secure a minimum of USD1.5 billion through a fresh bond offering.
The capital raise is said to involve contributions from current investors such as BlackRock and the Abu Dhabi-based investment company Mubadala.
Proceeds are expected to be utilized in repurchasing previously issued debt from an earlier bond round.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
