OpenAI warns investors about shady SPVs claiming access to its equity. The company just dropped a blog post alerting people to watch out for “unauthorized opportunities to gain exposure to OpenAI,” especially via special purpose vehicles (SPVs).
The issue started as some firms are selling interests in SPVs that promise a cut of OpenAI equity. OpenAI says that’s likely skirting its transfer restrictions and could leave buyers with worthless shares.
“We urge you to be careful if you are contacted by a firm that purports to have access to OpenAI, including through the sale of an SPV interest with exposure to OpenAI equity,” OpenAI warned.
“If so, the sale will not be recognized and carry no economic value to you.”
SPVs have become a popular way to pool funds for one-off AI investments, but some investors call them “tourist chumps” vehicles. OpenAI is pushing back hard to shut down unauthorized SPV trades.
The crackdown doesn’t stop with OpenAI. Business Insider reports AI startup Anthropic is also enforcing strict rules, telling Menlo Ventures it must invest with its own capital rather than through SPVs in upcoming funding rounds.
OpenAI is clear: if it’s not an official transfer, don’t buy it. Investors beware.
