# Eightco Plans to Use $20 Million OpenAI Sale Proceeds for Buybacks

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/43844
Published: 2026-10-29T20:14:37.000Z
Updated: 2026-10-29T20:14:37.000Z
Section: Business

> The Oct. 26 sale price was about 40% above Eightco’s initial purchase price. The company had repurchased more than 55 million shares under its $125 million program.

Eightco Holdings (ORBS) plans to use about $20 million in gross proceeds from a partial sale of its indirect OpenAI stake for share repurchases, adding funds to a program launched in August.

AI Innovation Capital LLC, the Eightco subsidiary that holds its indirect OpenAI exposure, completed the sale Oct. 26. Eightco announced the transaction Oct. 29 and plans to direct the proceeds to its existing $125 million buyback program.

The sale price was about 40% above Eightco’s initial purchase price. The company said it had repurchased more than 55 million shares since the program began, equal to 12.98% of its outstanding shares.

Eightco retained about $76 million in indirect OpenAI equity after the sale. Its Oct. 28 treasury snapshot totaled about $399 million and included $18 million in Beast Industries equity, $132 million in cash and equivalents, and 16,278 Ether (ETH).