OpenAI has publicly denied any partnership with Robinhood regarding the trading platform’s new “stock token” promotion, which has created confusion around the offer. In a post on X, the AI company stated it did not endorse the tokens and had no involvement in the offering.
The clarification came after Robinhood announced on Monday that it would give 5 euros worth of OpenAI and SpaceX stock tokens to eligible EU users who registered by July 7. The promotion sparked excitement as a potential new way for retail investors to gain exposure to highly sought-after private companies.
In response to OpenAI’s denial, a Robinhood spokesperson explained that the giveaway was a “limited” offer. They said it was enabled by the company’s stake in an unnamed “special purpose vehicle,” a type of entity often used to hold such assets, rather than a direct partnership with OpenAI itself.
This public dispute highlights the significant regulatory and logistical hurdles of creating financial products tied to private company shares. Unlike public stocks, shares in firms like OpenAI are not freely tradable, making such token offerings a complex and controversial area in finance. SpaceX has not yet commented on the matter.
