Musk denies final xAI-Telegram deal, TON pulls back after surge

Elon Musk clarified that no formal deal has been signed between his AI startup xAI and Telegram, despite earlier claims from Telegram CEO Pavel Durov about a Grok chatbot integration, according to The Block. Durov later confirmed the agreement is only in principle. TON surged nearly 19% on the news before retreating after Musk’s statement. Telegram also plans to raise $1.5 billion through a new bond issuance.