OpenAI needs to clarify that Robinhood’s sale of “OpenAI tokens” is not going to give on a regular basis shoppers fairness — or inventory — in OpenAI, the corporate stated in a submit from its official newsroom account on X. OpenAI says it doesn’t endorse Robinhood’s effort, nor was it concerned in facilitating the token sale.
“These ‘OpenAI tokens’ usually are not OpenAI fairness,” stated OpenAI’s newsroom account on Wednesday. “We didn’t companion with Robinhood, weren’t concerned on this, and don’t endorse it. Any switch of OpenAI fairness requires our approval—we didn’t approve any switch. Please watch out.”
These “OpenAI tokens” usually are not OpenAI fairness. We didn’t companion with Robinhood, weren’t concerned on this, and don’t endorse it. Any switch of OpenAI fairness requires our approval—we didn’t approve any switch. Please watch out.— OpenAI Newsroom (@OpenAINewsroom) July 2, 2025
OpenAI’s assertion is a response to Robinhood’s announcement earlier this week that it could begin promoting so-called tokenized shares of OpenAI, SpaceX, and different personal corporations to individuals within the European Union.
Robinhood says the launch represents an try to offer on a regular basis individuals publicity to fairness on the planet’s most dear personal corporations through blockchain. Hours after saying these token gross sales, Robinhood’s inventory worth shot to an all-time excessive.
However inventory in personal corporations like OpenAI and SpaceX usually are not obtainable to the general public. That’s what makes them personal. They promote shares to traders of their selecting.
So OpenAI is brazenly disavowing Robinhood’s effort.
In response to OpenAI’s condemnation, Robinhood spokesperson Rouky Diallo instructed TechCrunch that OpenAI tokens had been a part of a “restricted” giveaway to supply retail traders oblique publicity “by Robinhood’s possession stake in a particular function car (SPV).”
That implies Robinhood owns shares of an SPV that controls a sure variety of OpenAI’s shares. Just like the tokens, shares of SPVs usually are not direct possession of shares, both. They’re possession in a car that owns the shares. In a technique or one other, Robinhood appears to be tying the worth of its new tokenized product to the OpenAI shares in that SPV. However shares costs in an SPV also can differ from costs of an precise share of inventory.
In Robinhood’s assist middle, the corporate notes that when shopping for any of its inventory tokens, “you aren’t shopping for the precise shares — you’re shopping for tokenized contracts that observe their worth, recorded on a blockchain.”
“Whereas it’s true that they aren’t technically ‘fairness,’ […] the tokens successfully give retail traders publicity to those personal property,” stated Robinhood CEO Vlad Tenev in a submit on X on Wednesday. “Our giveaway vegetation a seed for one thing a lot greater, and since our announcement we’ve been listening to from many personal corporations which can be keen to affix us within the tokenization revolution.”
OpenAI declined to remark additional. Robinhood didn’t reply to TechCrunch’s further questions on its SPV.
Personal corporations are identified to push again towards something that might affect how their fairness is valued. In latest months, humanoid robotics startup Determine AI despatched cease-and-desist letters to 2 brokers operating secondary markets that had been advertising the corporate’s inventory. In fact, these conditions are totally different, however most startups don’t need individuals to consider that they’ve licensed share gross sales in the event that they haven’t.
