In a recent post on their website, OpenAI cautions against engaging in unauthorized methods to gain exposure to their company, such as through special purpose vehicles (SPVs).
OpenAI has issued a warning in a blog post about the risks associated with seeking exposure to the company through unauthorized means, including the use of special purpose vehicles (SPVs).
The company advises individuals to exercise caution if approached by a firm claiming to have access to OpenAI, particularly through the sale of SPV interests providing exposure to OpenAI equity. While acknowledging that not all offers involving OpenAI equity are problematic, OpenAI highlights concerns about firms attempting to bypass transfer restrictions.
OpenAI emphasizes that any unauthorized sales will not be recognized and will hold no economic value for the buyer. This warning comes as investors increasingly turn to SPVs as a method of investing in emerging AI startups, a trend that has drawn criticism from some venture capitalists who view SPVs as catering to opportunistic investors.
According to reports from Business Insider, OpenAI is not the only major player in the AI industry taking steps to address the use of SPVs. Anthropic, another prominent AI company, reportedly informed Menlo Ventures that they must use their own capital rather than an SPV to participate in an upcoming funding round.
