OpenAI has distanced itself from Robinhood Markets Inc (NASDAQ:HOOD) recent launch of so-called “OpenAI tokens”, clarifying that the sale does not equate to holding real equity in the company.
In a post on X, OpenAI stated it had no involvement in the token sale and did not approve any transfer of its shares, warning consumers to “be careful.”
Robinhood had announced plans to offer tokenised shares of private firms like OpenAI and SpaceX to European customers via blockchain.
However, private company stock is typically reserved for selected investors and is not publicly traded.
Robinhood later said its tokens are linked to a special purpose vehicle (SPV) holding OpenAI shares, giving indirect exposure to the firm.
OpenAI reiterated that its equity cannot be sold without its consent. Robinhood’s stock rose 6.1% to $97.98 following the token announcement.