Allbirds' AI pivot sparks dot-com nostalgia and a meme-fueled rally
Allbirds pivots into AI by renaming to NewBird AI and seeking about $50 million to buy GPU compute for selling AI infrastructure services, which has sparked a short-term stock rally driven by momentum traders; the move echoes late-1990s dot-com-era reverse-merger plays, though the company had sold its sneakers and assets, leaving investors to speculate on whether the AI strategy can translate into real value.
