What happened?
xAI will pay Telegram $300 million in cash and equity to integrate its chatbot Grok into Telegram. Additionally, Telegram will also take a cut from user subscriptions to Grok.
Grok will support various functions in the Telegram platform, including conversations, smart text editing, chat summaries, document summaries, and group chat management.
Several major news have recently emerged from Telegram and the TON Foundation, causing Toncoin's price to rise by 20% in just a few hours, reaching a market capitalization of $8.2 billion.
The integration of xAI's chatbot Grok with Telegram.
Telegram CEO Pavel Durov recently announced an agreement with Elon Musk's AI company xAI to integrate xAI's chatbot Grok into Telegram.
Additionally, Telegram will receive $300 million in cash and equity paid by xAI and will earn a 50% profit share from Telegram users subscribing to xAI on the platform.
According to Durov's promotional video, Telegram users can find Grok directly through the search bar, and Grok supports various functions such as conversations, smart text editing, chat summaries, document summaries, and group chat management, greatly enhancing the chat experience on Telegram and improving user interaction with AI.
At the same time, he demonstrated how Grok can assist businesses in answering questions, providing writing suggestions, summarizing chat records, creating stickers, and other diverse functions.
Foreign media analysis indicates that Telegram's choice to collaborate with xAI is aimed at promoting AI integration on the platform while further increasing user engagement. Telegram focuses on deeply integrating AI technology with chat functionalities to enhance user experience.
In contrast, Meta is integrating Meta AI into applications on Instagram and WhatsApp, mainly aiming to optimize content recommendations and advertising systems to enhance advertising effectiveness and user engagement time. Meta's AI integration emphasizes personalized recommendations and advertising monetization.
BlackRock is considering participating in Telegram's bond issuance.
In addition to the news of integration with xAI, the Wall Street Journal points out that asset management giant BlackRock is considering participating in Telegram's $1.5 billion bond issuance.
It is reported that not only BlackRock, but Telegram has also gained support from private equity investment company Mubadala and hedge fund Citadel.
Additionally, the TON Foundation has new news, appointing former Visa executive Nikola Plecas as the new Vice President of Payments, with responsibilities including expanding the TON network, managing financial partnerships, and ensuring compliance globally to meet the payment needs of over 1 billion Telegram users.
During his time at Visa, Plecas was actively involved in cryptocurrency-related projects, including product development and commercialization, and often represented Visa at major events.
Currently, Telegram has a close partnership with the TON Foundation, and Toncoin is the only cryptocurrency accepted on the Telegram platform aside from fiat payments.
As news continues to emerge, the price of Toncoin has also risen by 20% in just a few hours. According to CoinGecko data, the current price of Toncoin is $3.32, with a market capitalization of $8.2 billion.
Source: TechCrunch, CoinTelegram
More reports
Is Telegram softening? In 2024, it provided the U.S. with data on over 2,000 users. Is the spirit of 'pursuing freedom' still there?
From community to finance: What’s the next step for Musk's 'universal app'? Is human life going to be X-ed out?
