OpenAI Warns Against Unauthorized Investment Vehicles and SPVs in AI Startups

OpenAI issues a cautionary notice against unauthorized opportunities that claim exposure to the organization through special purpose vehicles (SPVs). These vehicles, often used for one-off investments, are a growing trend among investors seeking entry into high-profile AI startups.

In its blog post, OpenAI advises vigilance towards firms claiming access to OpenAI, particularly those offering SPV interests linked to OpenAI equity. The company emphasizes that not all offers of OpenAI equity are problematic but warns that some entities may be attempting to bypass transfer restrictions.

OpenAI asserts that any sale recognized as an attempt to circumvent their restrictions will hold no economic value for the investor.

The rise of SPVs has drawn criticism from venture capitalists, who view them as a means for “tourist chumps” to invest in AI startups. Business Insider reports that OpenAI isn’t the sole major AI company taking measures against SPVs; Anthropic is reportedly requiring Menlo Ventures to utilize its own capital, rather than an SPV, for investment in an upcoming round.