Allbirds pivots to AI business

The move has been met with incredulity by market analysts, even as the company's stock experienced a massive, speculative surge.

Allbirds plans to leverage its new capital to build out AI compute infrastructure, moving away from its roots in sustainable footwear.

The pivot is seen as a desperate attempt to save the struggling brand following years of financial decline.

However, experts warn that the transition will require significant technical expertise and relationships with major cloud providers that the company currently lacks.