Elon Musk Clarifies No Deal With Telegram, TON Drops 5.56%

Elon Musk, the CEO of xAI, has clarified that no deal has been signed to bring xAI's Grok to Telegram, contradicting an earlier announcement by Telegram's founder, Pavel Durov. This clarification has led to a drop in the price of TON, the token associated with Telegram.

Earlier on Wednesday, Durov had announced a potential partnership between Telegram and xAI, stating that Telegram users would gain access to xAI's Grok technology. This announcement led to a temporary rally in TON's price. However, Musk's clarification that no agreement has been signed has put sell pressure on TON's recent rally, causing its price to drop from $3.60 to $3.40.

The potential partnership between Telegram and xAI was seen as a significant development in the AI and messaging app industries. xAI's Grok technology is considered one of the best AI technologies on the market, and its integration into Telegram's platform could have provided users with advanced AI capabilities. However, Musk's clarification has cast doubt on the potential partnership, leading to a drop in TON's price.

This development highlights the importance of clear communication in the tech industry. The announcement of a potential partnership can have a significant impact on the market, as seen with the temporary rally in TON's price. However, it is important for companies to provide accurate information to avoid misleading the market and causing unnecessary volatility.

Moving forward, it remains to be seen whether a deal will be finalized between Telegram and xAI. If a deal is signed, it could provide Telegram users with access to advanced AI technology and strengthen Telegram's position in the messaging app industry. However, if no deal is signed, it could lead to further volatility in TON's price and uncertainty in the market.