OpenAI CEO Sam Altman announced on May 19 an offer to all 169 startups in the current Y Combinator batch to receive $2 million worth of OpenAI tokens in exchange for equity [1, 2, 3, 4, 5]. The announcement was made at a YC event Tuesday night, where YC partner Tyler Bosmeny described it as a “mic drop moment” [2].
The deal uses an uncapped SAFE (Simple Agreement for Future Equity) contract. The equity percentage that OpenAI will receive will convert during the startups’ next priced funding round (Series A), based on valuation at that time [2, 3, 5]. OpenAI expects to receive between 1% and 4% equity stakes per startup depending on the valuation upon conversion [5].
The $2 million worth of tokens could cover 12 to 24 months of heavy usage of OpenAI’s AI models, offering significant support for startups integrating OpenAI technology [5]. According to sources, the tokens likely represent OpenAI API service or usage credits, though some reports suggest the tokens could be blockchain-based or tied to an unconfirmed rewards scheme, as OpenAI has not officially clarified their exact nature [1, 2, 3, 5] [4].
The SAFE contract does not include a Most Favored Nation clause, so if startups offer better equity terms to future investors, OpenAI will not automatically receive those improved terms [3]. The overall arrangement reflects a novel approach mixing capital investment with digital asset distribution [4, 5].
Altman expressed enthusiasm about the program’s potential. He said, “I am excited to see what will happen with tokenmaxxing startups, both for how they work internally and the products they can build. Happy building!” [3]
OpenAI aims to secure equity stakes in early-stage YC companies while encouraging them to build on its AI technology through these tokens [1, 2, 5]. The startups in the 2026 YC batch number about 169 [2].
Media reports on May 20 further detailed the offer, sparking discussions across the tech and investment communities [1, 4, 5]. OpenAI and YC will next watch how many startups accept the offer and the impact on product development as the batch progresses.
