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Allbirds announced a switch from shoes to AI and its stock jumped 600 percent

Allbirds, after selling its shoe business, announced a pivot to become an AI compute provider. The company’s stock surged dramatically following the announcement, reflecting strong market reaction to the shift from footwear to artificial-intelligence services.

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  1. TechMeme·
    Trainer maker Allbirds, which sold last week for $39M after its valuation fell from $4B in 2021, says it aims to become an AI compute provider; BIRD jumps 150%+ (Bryce Elder/Financial Times)
  2. TechCrunch·
    After sale of its shoe business, Allbirds pivots to AI
  3. The Verge·
    Allbirds announced a switch from shoes to AI and its stock jumped 600 percent