OpenAI has publicly distanced itself from the newly announced “stock tokens” that Robinhood unveiled earlier this week. The company clarified that these tokenized forms of its stock do not represent official equity in the private tech firm.
In a statement on X, OpenAI emphasized, “These ‘OpenAI tokens’ are not OpenAI equity. 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’s announcement included an expansion of its cryptocurrency offerings, alongside the introduction of stock tokens for a mix of public and private U.S. companies. This new feature targets European investors looking to gain exposure to the American market. At the event, Robinhood also initiated a giveaway of tokens related to OpenAI and SpaceX for users signing up before July 7.
A Robinhood spokesperson noted, “To cap off our recent crypto event, we announced a limited stock token giveaway on OpenAI and SpaceX to eligible European customers. 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.”
Responding to OpenAI’s statement, Robinhood CEO Vlad Tenev acknowledged that while the tokens are not technically classified as equity, they still provide retail investors with meaningful access to these private assets.
Following the announcement, shares of Robinhood faced a slight dip, falling 2% in premarket trading after reaching a record close of $97.98 on Wednesday.
