Publicly traded AI and blockchain company Eightco Holdings ($ORBS) has increased its investment in leading artificial intelligence company OpenAI, investing an additional $40 million in the company behind the popular chatbot ChatGPT.
The investment brings total support to the company, led by co-founder and CEO Sam Altman, to $90 million, representing 30% of its overall finances.
“We believe investing in OpenAI is a transformative opportunity. $ORBSBut it’s for our shareholders,” Eightco CEO Kevin O’Donnell said in a statement.
“While access to high-growth private companies has traditionally been limited to institutional investors, we are proud to offer retail investors meaningful exposure to one of the world’s most important AI companies,” he added.
The investment will be made after one week. The company announced $125 million in funding from Ethereum Finance company BitMine Immersion Technologies, Kraken’s parent company Payward, and prominent technology investor Cathie Wood’s investment company Ark Invest.
In addition to the investment, Eightco added BitMine Chairman Tom Lee to its board of directors. (Disclaimer: Lee is an angel investor in the prediction market platform operated by Myriad. decryptionDastan, the parent company of. )
“This investment underscores our continued belief in the long-term impact of artificial intelligence and standing. $ORBS We are at the forefront of innovation as this technology reshapes industries around the world,” said O’Donnell.
In addition to its investment in OpenAI, the company also manages holdings of 11,068 ETH worth $23.6 million and $76 million in cash and stablecoins. Its largest cryptocurrency position is WorldCoin ($WLD), the native token of the Proof of Humanity blockchain project co-founded by Altman.
As of Friday, Eightco holds 277,222,975 $WLD Tokens — almost 10% of the total $WLD Circulating supply value – approximately $89.2 million worth.
Last year, the company $250 million raised to create digital asset vault Focusing on World Coin. The company’s stock soared 5,000% to a 52-week high of $83.12 on the news in September, according to Yahoo Finance data.
Shares fell more than 4% on the day to around $0.90. It has fallen nearly 93% in the past six months.
