Eightco Holdings Inc (NASDAQ:ORBS) shares are trading higher on Wednesday. The stock is gaining momentum alongside a broader market uptick. The Nasdaq has gained 0.71% while the S&P 500 is up 0.51%.

• Eightco Holdings stock is showing exceptional strength. Why are ORBS shares rallying?

Deepening Ties With OpenAI

The rally follows Friday’s news that Eightco invested an additional $40 million into OpenAI. This brings the company’s total commitment to $90 million. OpenAI now represents approximately 30% of the ORBS total treasury position.

“Access to high-growth private companies has historically been limited to institutional investors,” said Kevin O’Donnell, CEO of Eightco. He noted the company offers retail investors meaningful exposure to the AI giant.

Institutional Support and Funding

The company, on March 12, secured $125 million in new funding commitments. Bitmine Immersion Technologies (NYSE:BMNR) led the round with $75 million. ARK Invest and Payward, the parent of Kraken, each committed $25 million.

Cathie Wood, CEO of ARK Invest, stated her team is “excited to be partnering with ORBS.” The capital supports expansion into AI, blockchain and digital consumer platforms.

Strategic Board Appointments

ORBS is also strengthening its leadership. Tom Lee, chairman of Bitmine, joined the board of directors. Brett Winton, chief futurist at ARK Invest, now serves as a board advisor.

Technical Analysis

ORBS is trading 33.3% above its 20-day simple moving average (SMA) of $1 and 8.1% above its 50-day SMA of $1.24, but it remains 34.1% below its 100-day SMA of $2.03.

Shares are up over the past 12 months and, within the 52-week range ($83.12 high to 74 cents low), the stock is positioned much closer to the lows than the highs.

The Relative Strength Index (RSI) is at 55.64, which sits in neutral territory. MACD is at -0.0726 versus a signal line at -0.1112.

  • Key Resistance: $1.50
  • Key Support: $1

ORBS Stock Price Activity: Eightco Holdings shares were up 3.08% at $1.24 at the time of publication on Wednesday, according to Benzinga Pro data.

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