Allbirds pivots to AI compute

The transition from sustainable sneakers to high-performance computing has sent Allbirds' stock price soaring by over 600%.

Executives described the move as a long-term vision to capitalize on the voracious demand for AI compute power, moving away from a retail sector where sales had plummeted.

Market analysts have compared the pivot to the 'blockchain' frenzy of 2017, questioning whether a consumer apparel firm can successfully navigate the complex semiconductor landscape.

The rebrand marks the end of an era for the once-iconic Silicon Valley startup.