Allbirds Pivots from Shoes to AI

In a move that has stunned the retail industry, Allbirds is effectively exiting the shoe business to become an AI infrastructure provider.

The company plans to use its new funding to purchase high-end chips and rent out computing power to other firms.

While the announcement triggered a frenzy among retail traders, analysts have expressed skepticism about the long-term viability of such a radical pivot.

The shift comes as Allbirds looks to escape a period of declining sales and mounting financial losses in the competitive apparel market.