OpenAI Clarifies Tokens Are Not Equity; No Partnership with Robinhood – Musk Calls AI Company’s Equity “Fake” – Robinhood Markets (NASDAQ: HOOD)

OpenAI has clarified that the “OpenAI tokens” offered by Robinhood Markets, Inc. (HOOD) are not actual equity and contradicts any partnership claims regarding the product. In a post on X, OpenAI emphasized that any transfer of its equity requires company approval, which was not granted in this instance. Users are cautioned against the tokens, as they do not reflect OpenAI’s endorsement. Robinhood recently launched these tokenized shares as part of a ticketed equities initiative, positioning them as a means for retail investors to access private markets via Robinhood’s special purpose vehicle. Elon Musk, an OpenAI co-founder, reacted to OpenAI’s statement, labeling the tokens as “fake.” Meanwhile, Robinhood shares reached a new all-time high following its announcements in cryptocurrency. KeyBanc Capital Markets raised its price target for Robinhood stock from $60 to $110, citing innovation and expansion potential as key growth drivers.

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