GoKawiilRobinhood's proprietary investment vehicle for retail investors has taken a small stake in privately held OpenAI, the trading company announced Wednesday.
The Robinhood Ventures Fund I (RVI) , which provides investors with exposure to several private tech companies, invested $75 million in the artificial intelligence giant. The fund went public and began trading on the New York Stock Exchange this March.
"OpenAI is one of the frontier artificial intelligence companies, and we are incredibly proud to add them to the Fund," said Sarah Pinto, president of Robinhood Ventures Fund I, in a statement. "As one of RVI's largest investments to date, this underscores our core mission to provide everyday investors with access to what we believe are transformative companies shaping the future."
The stake is relatively small compared with OpenAI's massive multibillion-dollar funding rounds, though still a meaningful position that provides exposure to one of the most influential players in artificial intelligence.