OpenAI isn’t a public company yet, which means it doesn’t sell shares on the stock market. But that hasn’t stopped scammers from trying to trick people into buying fake stakes in the company. Recently, OpenAI warned that bad actors are making unauthorized offers to gain access to its equity. Basically, they’re trying to sell fake or illegal shares and promising big returns that don’t exist.

How Are These Scams Playing Out?

One common trick is for scammers to offer to sell OpenAI shares directly without permission. Since OpenAI’s rules say any sale of its equity must have written approval, any unapproved deal is invalid. If someone tries to buy or sell shares illegally, the deal won’t be recognized by the company and probably has no real value.

Another scam involves special purpose vehicles, or SPVs. These are special investment setups that can bundle shares from multiple investors. Scammers often pitch these as quick ways to buy into hot AI companies like OpenAI. But many of these SPV deals are shady. Investors have reported being bombarded with cold pitches from brokers or firms claiming to offer access to these investments. Experts say many of these SPVs are just fancy ways for scammers to charge high fees or make quick money, often without providing real value or transparency.

Why Are These Scams a Big Deal?

OpenAI warns that buying into these unauthorized deals can be risky. First, the deals might be outright illegal. If someone sells you fake shares, you could lose your money, and the sale might even be reversed later. Plus, these transactions might break U.S. securities laws, which regulate how private company shares can be bought and sold.

OpenAI is committed to fighting these scams. The company urges anyone approached with suspicious offers to report them directly. They emphasize that any attempt to transfer their equity without approval is invalid and could have legal consequences.

Industry experts, like angel investor Sarah Guo, advise caution. She warns that the current hype around AI investments has attracted many scammers. These bad actors often operate through complex, layered SPV schemes designed to look legitimate. Guo advises investors to steer clear of these risky deals and stick to trusted channels. Buying into AI companies is exciting, but it’s important to be smart and cautious. Falling for frauds can cost you, and it’s best to do thorough research or consult with trusted financial advisors before making any moves.

In the end, the message is clear: if you’re approached with a deal that sounds too good to be true—especially involving unauthorized shares or schemes—it’s best to stay cautious. OpenAI and industry experts agree that protecting yourself from scams is crucial as the AI investment landscape continues to grow rapidly.

Inspired by

• https://futurism.com/openai-warns-against-investing

Sources

• gmpg.org
• reuters.com
• openai.com
• carta.com
• businessinsider.com