Shares of EightCo Holdings (ORBS) surged in pre-market trade on Friday after the company announced the launch of a pilot program aimed at advancing AI authentication for enterprises.

EightCo's stock rocketed by as much as 26% with retail sentiment on Stocktwits trending in 'bullish' territory amid 'high' levels of chatter over the past day.

The company said the new initiative will identify and develop innovative approaches to address emerging identity and verification challenges as enterprises scale their use of artificial intelligence (AI).

"With trillions of dollars being invested in AI, the lack of scalable human-proof authentication has become a critical enterprise challenge," said Chairman of Eightco Holdings and Managing Director at Wedbush, Dan Ives. He stated that the company has heard from many enterprise technology vendors over the last month looking for secure, verifiable identity solutions as they scale AI workloads and applications. 

Ives explained the new program will assess single sign-on capabilities and verification pathways to help companies secure AI workloads and applications in an increasingly digital environment.

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