Eightco Adds $40M OpenAI Stake, Totaling $90M

Eightco Holdings Inc., a Nasdaq-listed company focused on artificial intelligence and blockchain investments, announced on Friday an additional $40 million equity stake in OpenAI, the developer of the ChatGPT chatbot. The investment brings Eightco's total commitment to the private AI firm to $90 million, accounting for approximately 30 percent of its overall treasury.

The move underscores Eightco's strategy to provide retail investors with exposure to high-growth private technology companies typically accessible only to institutions. "We believe our investment in OpenAI represents a transformative opportunity not only for ORBS, but for our shareholders," said Kevin O'Donnell, Eightco's CEO, in a statement. "Access to high-growth private companies has historically been limited to institutional investors, and we're proud to offer retail investors meaningful exposure to one of the most important AI companies in the world."

The announcement coincides with a recent $125 million funding round for Eightco, closed earlier this week and led by BitMine Immersion Technologies with a $75 million contribution. ARK Invest and Payward, the parent company of the Kraken cryptocurrency exchange,...