Allbirds Pivots to Artificial Intelligence, Stock Surges

Allbirds announced that it was exiting the footwear business to focus on AI, with its stock rising from $3 to ~$17 as a result. “The Company will initially seek to acquire high-performance, low-latency AI compute hardware and provide access under long-term lease arrangements, meeting customer demand that spot markets and hyperscalers are unable to reliably service,” Allbirds said in a statement (via CNBC).