Tom Lee-linked Eightco ups equity stake in OpenAI to $40 million
Eightco Holdings increased its investment in OpenAI to $90 million, citing a transformative opportunity for shareholders.Summary
Eightco Holdings Inc. has increased its equity stake in OpenAI, the creator of ChatGPT, by an additional $40 million, bringing its total investment to $90 million. CEO Kevin O'Donnell stated the investment represents a significant opportunity for both Eightco and its shareholders, providing retail investors access to a leading AI company. Eightco is also a major public holder of WLD, the token of the World crypto project backed by OpenAI co-founder Sam Altman, owning 10% of the total supply. Bitmine Immersion Technologies Chairman Tom Lee is an ally and board member of Eightco, and his firm Bitmine has invested $75 million into the company. Eightco’s portfolio also includes investments in Beast Industries (MrBeast’s company) and holds Ethereum. Despite the positive news, Eightco’s shares experienced a 5% drop in early trading.
(Source：The Block)