Eightco's $472M Portfolio: $90M in OpenAI SPVs, $18M in Beast Industries

For venture capitalists and startup backers, Eightco Holdings is a fascinating animal: a NASDAQ-listed company that serves as a public-access fund for private startup equity. Its $472 million treasury includes $90 million funneled into OpenAI through special purpose vehicles, $18 million in defense-tech startup Beast Industries, and $1 million in Mythical Games. That’s nearly a quarter of total assets in startup bets that would otherwise be out of reach for most retail investors. But the SPV structure raises questions about liquidity, valuation, and the true premium embedded in these stakes.

On June 18, 2026, Eightco Holdings Inc. (NASDAQ: ORBS) disclosed a treasury portfolio valued at approximately $472 million, a revelation that positions the publicly traded company as a hybrid bet on artificial intelligence and digital assets. According to the company's press release, the holdings as of 5:30 p.m. ET on June 17 included a $90 million indirect exposure to OpenAI through special purpose vehicles (SPVs), an $18 million funded investment in defense technology firm Beast Industries, and a $1 million stake in gaming startup Mythical Games. Additionally, the portfolio featured 283,452,700 Worldcoin (WLD) tokens at a per-unit price of $0.66, 16,278 Ether (ETH) valued at approximately $52 million based on market rates, and a combined $149 million in cash and stablecoins. The disclosure cements Eightco’s self-described concentration on three mega-trends: artificial intelligence, digital identity (embodied by its massive Worldcoin position), and the creator economy.

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Its $472 million treasury includes $90 million funneled into OpenAI through special purpose vehicles, $18 million in defense-tech startup Beast Industries, and $1 million in Mythical Games.

This treasury structure is unusual for a publicly traded company. Unlike most corporate balance sheets that view cash reserves as dry powder for operations or buybacks, Eightco has assembled what it calls "some of the most critical components for the future AI and digital financial system." The $90 million OpenAI commitment represents 19% of total treasury assets, making ORBS one of the most concentrated public-market proxies for the AI giant. By routing the investment through SPVs, Eightco navigates the typical hurdles of private-company liquidity, offering its shareholders a rare window into a company that crossed 900 million weekly active users on ChatGPT in February 2026, per Sensor Tower and UBS research. However, the SPV structure also introduces layers of complexity, indirect ownership, and potential discounts to net asset value that may cloud the true market value of the stake.

The crypto allocation is even more dominant. Worldcoin alone accounts for roughly 39% of treasury assets, or about $187 million at the quoted price. This heavy weighting in WLD—a token tied to digital identity and a project co-founded by OpenAI’s Sam Altman—reinforces the thematic overlap between AI and crypto. The Ether position, while smaller at 16,278 coins, adds a foundational layer of exposure to smart-contract platforms. The $149 million in cash and stablecoins provides ballast, but the overall portfolio carries significant concentration risk: two assets (OpenAI and WLD) make up nearly 60% of total holdings. This is a high-conviction, high-volatility strategy that will likely move in sync with sentiment toward AI and altcoins.