Elon Musk's xAI is paying the messaging platform Telegram a cool $300 million to introduce the chatbot Grok to its users. The terms of the deal are extremely favorable to Telegram, as the $300 million only covers a single year and xAI will evenly split any subscription sales to Grok Premium and Premium+ with the messaging platform.

Telegram CEO Pavel Durov on Wednesday said Elon Musk's AI company, xAI, is investing $300 million worth of cash and equity in the chat app. As part of the deal, xAI's chatbot, Grok, will be distributed via Telegram and integrated into apps available on Telegram's platform for one year.

Telegram has entered into a deal with Elon Musk's company. XAI has signed several tie-ups this year to bolster its position in both AI infrastructure and financial services.