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Allbirds shares soar 580% after pivot from shoes to AI

12 hours agoOsmond ChiaBusiness reporterAllbirdsShares in shoe brand Allbirds, once seen on the feet of famous people like actor Ben Affleck and former US President Barack Obama, soared on Wednesday after it announced plans to pivot from footwear to artificial intelligence (AI).The San Francisco-based firm said it has struck a $50m (£37m) deal to become an "AI compute infrastructure" business and change its name to NewBird AI.The announcement sent the firm's shares surging by more than 580%, tho...

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