OpenAI Warns Robinhood’s OpenAI Tokens Are Not Company Equity

OpenAI warned on Wednesday that it has not partnered with the trading app Robinhood, and does not endorse the tokens bearing its name that are being promoted by the financial service platform.

According to CNBC, on Monday, Robinhood announced new tokenized equities for OpenAI and SpaceX at a crypto event in Cannes, France, pricing them at 5 euros. The trading company introduced the tokens as part of a broader product and services announcement, and encouraged European users to join the crypto platform.

In response to the announcement, OpenAI clarified that it is not involved in the offering and distanced itself from the initiative, adding that users should be careful.

“These “OpenAI tokens” are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it,” wrote OpenAI on a post on the social media platform X. “Any transfer of OpenAI equity requires our approval—we did not approve any transfer. Please be careful.”

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.

— OpenAI Newsroom (@OpenAINewsroom) July 2, 2025

OpenAI remains a private company and has not launched an IPO, despite long-standing speculation. Its final company structure, announced in May, includes a nonprofit entity that will remain the controlling stakeholder, and a for-profit arm that will transition into a Public Benefit Corporation.

According to Reuters, Robinhood explained that it set up a Special Purpose Vehicle (SPV)—without identifying the vehicle—which holds shares in OpenAI. The stock tokens are being distributed through a limited-time giveaway.

“To cap off our recent crypto event, we announced a limited Stock Token giveaway on OpenAI and SpaceX to eligible European customers,” wrote Robinhoon on X on Thursday. “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.”

Following the announcement of the new OpenAI and SpaceX tokens, Robinhood’s stock surged nearly 13%, climbing above $100—an all-time high—according to CNBC.