OpenAI Disowns Robinhood Token Offer: “Please Be Careful,” Warns AI Giant

Highlights

OpenAI warns EU users that Robinhood’s token giveaway does not reflect actual equity or any approved partnership with the company.

OpenAI has issued a stark warning to European Union users about a recent promotional campaign launched by Robinhood, stating clearly that the so-called “OpenAI tokens” do not represent any real ownership or equity in the AI company. The announcement comes as Robinhood pushes a new initiative offering tokenized exposure to private companies such as OpenAI and SpaceX.

In a post shared on X, OpenAI disavowed any involvement in Robinhood’s giveaway and cautioned users not to be misled. “These ‘OpenAI tokens’ are not OpenAI equity,” the company stated. “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.”

The warning follows Robinhood’s recent offer that promises €5 worth of tokenized contracts tied to OpenAI and SpaceX to EU users who register for stock token trading by July 7. The initiative is being positioned as a way for retail investors to gain access to the value of high-profile private firms — an opportunity usually reserved for institutional or high-net-worth individuals.

Robinhood’s CEO Vlad Tenev also addressed the issue on X, attempting to clarify the intent behind the tokens. He acknowledged that the assets aren’t actual shares but said they are “designed to mimic their price and give investors indirect exposure.” Tenev added, “Our giveaway plants a seed for something much bigger,” suggesting that more private companies may participate in Robinhood’s tokenization efforts in the future.

According to Robinhood, these tokens are not traditional stock shares but rather “tokenised contracts that follow their price.” The instruments are recorded on a blockchain and made possible through a special purpose vehicle (SPV) in which Robinhood holds a stake. The company has not disclosed the name or structure of the SPV involved in these contracts.

In a comment to TechCrunch, Robinhood spokesperson Rouky Diallo referred to the giveaway as a “limited” offering, describing it as a way for users to gain some level of access to traditionally closed-off private markets through the firm’s SPV arrangements.

Still, OpenAI’s position remains firm. The company emphasized that it did not approve any equity transfer and views the promotion as misleading. This distinction is crucial, as OpenAI does not trade publicly and any attempt to simulate ownership through tokens touches on both legal and ethical boundaries.

Stock tokens have gained popularity in some fintech circles as an innovative way to democratize investing in private firms. However, they remain highly controversial. Critics argue that they can create confusion among retail investors and potentially misrepresent ownership rights — as evidenced by the strong reaction from OpenAI.

In conclusion, while Robinhood’s offer may seem like a gateway into the world of elite tech firms, OpenAI has made it abundantly clear: these tokens carry neither its stock nor its approval.