OpenAI has put an end to collaboration speculation with Robinhood for the stock tokens.
On Wednesday, July 2, the tech giant made it clear that the financial services company’s sale of “OpenAI tokens” will not give consumers equity in the firm.
Turning to their X account, the ChatGPT parent company penned, “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.”
This update came after the fintech announced earlier this week that it would start selling their supposed tokenised shares of OpenAI, SpaceX and other private companies.
Robinhood shared that the launch represents an attempt to give everyday people exposure to equity in the world’s most valuable private companies via blockchain.
Hours after the major announcement, the trading platform’s stock price surged to an all-time high.
However, stocks in private companies like OpenAI and SpaceX are not available to the public, as that’s what makes them private.
These high-end companies sell shares to investors of their own choosing.
In response, a Robinhood rep said the stock token giveaway was a “limited” offer made possible by their investment in a special company, without naming it.