Samuel Boivin | Nurphoto | Getty Photos
Robinhood’s proprietary funding car for retail traders has taken a small stake in privately held OpenAI, the buying and selling firm introduced Wednesday.
The Robinhood Ventures Fund I (RVI), which gives traders with publicity to a number of personal tech firms, invested $75 million within the synthetic intelligence large. The fund went public and started buying and selling on the New York Inventory Change this March.
“OpenAI is likely one of the frontier synthetic intelligence firms, and we’re extremely proud so as to add them to the Fund,” mentioned Sarah Pinto, president of Robinhood Ventures Fund I, in a press release. “As considered one of RVI’s largest investments so far, this underscores our core mission to supply on a regular basis traders with entry to what we imagine are transformative firms shaping the long run.”
The stake is comparatively small in contrast with OpenAI’s huge multibillion-dollar funding rounds, although nonetheless a significant place that gives publicity to some of the influential gamers in synthetic intelligence.
Robinhood Ventures Fund I
This transfer follows a high-profile spat between the 2 firms. Final summer season, the ChatGPT firm and its founder Sam Altman publicly pushed again on Robinhood’s plans to supply “tokenized” fairness, saying inventory tokens don’t characterize fairness within the firm, after Robinhood started providing tokenized shares of OpenAI and SpaceX to customers in Europe.
It additionally highlights the surge in retail investor urge for food for publicity to main AI firms like OpenAI, Anthropic, and xAI, as pleasure round synthetic intelligence continues to dominate markets.
The demand is amplified by the broader development of high-growth tech companies staying personal longer – delaying IPOs to boost huge personal funding rounds, keep management of the corporate, and develop with out public market strain – making early entry extremely wanted amongst retail traders.
The Robinhood fund additionally holds stakes in Databricks, Revolut and Oura.
