Cathie Wood's favorite stock surges on OpenAI deal
HOOD
WD
ARK
GEN
HOOD
Robinhood Ventures Fund I (NYSE: RVI), the investment company launched by Robinhood Markets (Nasdaq: HOOD), just announced a new deal with OpenAI.
The company announced on April 22, 2026 that it has officially closed a $75 million investment in the company behind ChatGPT.
The purchase of OpenAI common stock, executed on April 17, marks one of the fund's largest single investments to date.
"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 RVI.
The fund, which began trading on the New York Stock Exchange on Mar. 6, 2026, now holds a concentrated portfolio of private heavyweights, including Stripe, Databricks, Revolut, Ramp, and ElevenLabs, among others.
Related: Robinhood beats Wall Street expectations with blockbuster earnings
HOOD stock jumps after deal
The announcement gave a meaningful lift to Robinhood's parent stock HOOD, which had closed 5.31% lower the prior session at $86.43.
In pre-market trading on April 22, shares climbed as high as 4%, opening over 4% higher after the bell and reaching $89.97 at press time.
The bounce will be closely watched by ARK Invest's Cathie Wood, one of Robinhood's most prominent institutional backers.
HOOD currently sits as the fourth-largest holding in both the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW), with weights of 5.10% and 5.22%, respectively.
It is also the sixth-largest in the ARK Blockchain & Fintech Innovation ETF (ARKF) at 4.85%.
Wood's Ark Invest last bought 60,266 shares of HOOD stock worth approximately $2.6 million on April 16.
Meanwhile, RVI was also up by 11.69%, trading at $26.95, during the first hour right after the bell.
