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Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
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The Markets
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Tech

Telegram strikes $300m AI deal with Elon Musk’s xAI

Telegram has struck a partnership with Elon Musk’s artificial intelligence company, xAI, to bring its chatbot Grok to the messaging platform’s more than one billion users.

The agreement, set to last for a year, will see Telegram receive $300 million in a mix of cash and equity, as well as half the revenue generated from any xAI subscriptions sold through its app.

Telegram founder Pavel Durov described the collaboration as a win for both sides. The deal mirrors recent moves by other platforms, such as Meta’s rollout of AI into WhatsApp, which drew mixed reactions from users.

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