Allbirds pivots to AI infrastructure, abandons clothes

Allbirds, the footwear and apparel company, is making a drastic pivot, abandoning its clothing line to focus on "AI compute infrastructure." This strategic shift aims to revitalize the company's struggling stock performance, drawing parallels to past speculative market frenzies. The move signals a significant departure from its core business, as the company seeks new avenues for growth and investor confidence in the burgeoning AI sector. Investors will be watching closely to see if this bold transformation can yield positive results.