Eightco Boosts OpenAI Investment After BitMine's Tom Lee Joins Board

Publicly traded AI and blockchain steadfast Eightco Holdings (ORBS) has upped its concern successful starring artificial quality steadfast OpenAI, making an further $40 cardinal concern successful the steadfast down fashionable chatbot ChatGPT. 

The concern brings its full backing to $90 cardinal successful the steadfast led by co-founder and CEO Sam Altman, accounting for 30% of its full treasury. 

"We judge our concern successful OpenAI represents a transformative accidental not lone for ORBS, but for our shareholders," said Eightco CEO Kevin O'Donnell successful a statement. 

"Access to high-growth backstage companies has historically been constricted to organization investors, and we're arrogant to connection retail investors meaningful vulnerability to 1 of the astir important AI companies successful the world,” helium added. 

The concern comes 1 week aft the firm announced a $125 cardinal fundraising injection from Ethereum treasury steadfast BitMine Immersion Technologies, Kraken genitor institution Payward, and Ark Invest, the concern steadfast of noted exertion capitalist Cathie Wood.

Alongside its investment, Eightco besides added BitMine Chairman Tom Lee to its committee of directors. (Disclaimer: Lee is an angel capitalist successful Myriad, the prediction marketplace level operated by Decrypt's genitor company, Dastan.)

“This concern highlights our continued content successful the semipermanent interaction of artificial quality and positions ORBS astatine the forefront of innovation arsenic this exertion reshapes industries globally,” said O’Donnell. 

Beyond its OpenAI investment, the steadfast manages holdings of 11,068 ETH valued astatine $23.6 million, arsenic good arsenic $76 cardinal successful currency and stablecoins. Its largest crypto presumption is successful Worldcoin (WLD), the autochthonal token for the proof-of-humanity blockchain task co-founded by Altman. 

BitMine's Tom Lee Joins Eightco Board arsenic ORBS Stock Jumps connected $125 Million Fundraise

As of Friday, Eightco held 277,222,975 WLD tokens—almost 10% of the full WLD circulating supply—valued astir $89.2 million. 

Last year, the steadfast raised $250 cardinal to make a integer plus treasury with a absorption connected Worldcoin. Upon that September news, shares successful the steadfast skyrocketed arsenic overmuch arsenic 5,000%, hitting a 52-week precocious of $83.12 according to information from Yahoo Finance. 

On the day, shares person dropped much than 4% to alteration hands astatine astir $0.90—down astir 93% successful the past six months.