OpenAI warns against SPVs and other ‘unauthorized’ investments

In a recent blog entry, OpenAI has issued a strong advisory regarding what it describes as 'unauthorized opportunities' to invest in the company. This includes a warning about special purpose vehicles (SPVs), which are often used to pool funds for single investments in promising startups. The company urges potential investors to exercise caution when approached by firms claiming to offer access to OpenAI through SPV interests. They emphasize that while not every investment in OpenAI equity is problematic, there are concerns that some firms may be trying to bypass the company’s transfer restrictions. OpenAI made it clear that any unauthorized sale would not be acknowledged and would hold no economic value for the investor. This warning comes amid a trend where investors increasingly utilize SPVs to tap into lucrative AI startups, leading some venture capitalists to describe this practice as attracting 'tourist chumps.' Furthermore, OpenAI is not alone in its stance; other notable AI firms like Anthropic have also indicated their preference for direct investments using their own capital rather than through SPVs in upcoming funding rounds.