Robinhood stock popped this week on news that European users could trade "tokenized" stock in private companies. OpenAI distanced itself from the plan.

OpenAI said Wednesday that it does not endorse the "tokenized" version of its stock that trading platform Robinhood plans to make available to its European users.

In a reply to OpenAI’s notice, a Robinhood spokesperson explained that the tokens offer “indirect exposure to private markets” for retail clients. They added that this access is made possible by “Robinhood’s ownership stake in a special purpose vehicle”.