Have Money to Lose? Bet on Allbirds’ AI Pivot.
Allbirds, once a highly valued sneaker company, has rebranded as 'NewBird AI' and raised $50 million for purported AI hardware development, sparking a temporary surge in its stock price. The move reflects a broader trend of companies repositioning themselves as AI-focused to attract investor interest amid the current tech boom. Like during the dot-com era, such pivots may mislead underinformed investors, as long-term success will ultimately depend on actual earnings and business fundamentals.
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Have Money to Lose? Bet on Allbirds’ AI Pivot.Betting on sports, meme stocks, or a pivot to AI are all chances for a small thrill in an affluent society. (Illustration by The Free Press)A sneaker company’s AI play takes advantage of Americans’ increasing penchant for gambling.By Tyler Cowen04.30.26 — Tech and BusinessFOLLOW COLUMN --:----:--Upgrade to Listen5 minsProduced by ElevenLabs using AI narrationPerhaps you too can pivot to AI.You might have heard the sneaker company Allbirds is trying exactly that.
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