A sign on the facade of the Allbirds shoe company on August 25, 2025 in Walnut Creek, California.
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Allbirds is one of the latest companies to pivot to AI to take advantage of the burgeoning technology boom sparked by the debut of ChatGPT in late 2022. A day after the Allbirds rebrand, social media platform provider Myseum moved to AI.
Refocusing on new technology trends is not a new phenomenon on Wall Street. At the height of cryptocurrency mania, several companies announced their own cryptocurrencies or pivoted to blockchain.
AI infrastructure company core weaveThe company, which went public last year, started out mining cryptocurrencies before successfully pivoting to AI.
Former professional soccer player Tim Brown and renewable resources expert Joey Zwillinger founded Allbirds in 2015 with the goal of creating sustainable shoes from natural materials. The company released its debut shoe a year later and quickly became a household name.
In 2021, Allbirds went public on the Nasdaq and soared 90% in its market debut. The company also rapidly expanded its physical store footprint.
Over the years, the stock has fallen nearly 99% from its November 2021 high of $577.80 due to increased competition and slowing trends.
Stock price chart of BIRD stock price from the beginning of the year to the present.
