OpenAI Says It Does Not Endorse Robinhood's 'Stock Tokens' of ChatGPT Maker
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OpenAI, the maker of ChatGPT, has raised billions in private funding in the last several yearsKey Takeaways
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ChatGPT maker OpenAI distanced itself from the "stock token" project Robinhood announced earlier this week.
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OpenAI said tokenized versions of its stock are not official equity in the private company.
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Robinhood said the assets wouldn't technically be equity, but would give European investors exposure to a range of public and private U.S. companies.
OpenAI said Wednesday that it does not endorse the "tokenized" version of its stock that trading platform Robinhood (HOOD) announced it would be making available to its European users.
"These 'OpenAI tokens' are not OpenAI equity," the ChatGPT maker said in a statement on X. "We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer. Please be careful."
Robinhood announced a slate of new features earlier this week expanding its cryptocurrency offerings, along with "stock tokens" of a mix of public and private companies that Robinhood will make available to its European users looking for exposure to U.S. markets. Part of the event included a giveaway of OpenAI and SpaceX tokens to a certain number of users who sign up by July 7.
"To cap off our recent crypto event, we announced a limited stock token giveaway on OpenAI and SpaceX to eligible European customers," a Robinhood spokesperson told Investopedia. "These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle."
Robinhood CEO Vlad Tenev said in response to OpenAI's post that "while it is true that they aren’t technically 'equity'," the tokens will still "effectively give retail investors exposure to these private assets."
Robinhood shares were down 2% in premarket trading, coming down from a record close of $97.98 on Wednesday.
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OpenAI's statement disavowing support for Robinhood’ss所谓“stock tokens mirroring the ChatGPT creator underscores its commitment to transparency and against unofficial derivatives, aiming at safeguarding users from potential confusion.”
