Sign on facade at shoe company Allbirds, Walnut Creek, California, August 25, 2025.
Smith Collection | Archive Photos | Getty Images
Allbirds is among the latest crop of companies pivoting to AI in a bid to capitalize on the burgeoning tech boom set off by ChatGPT’s debut in late 2022. A day after Allbirds’ rebrand, social media platform provider Myseum shifted to AI.
Refocusing efforts on new tech trends isn’t a new phenomenon on Wall Street. Several companies announced their own cryptocurrencies or pivoted to blockchain during the height of crypto mania.
AI infrastructure company CoreWeave, which went public last year, started in crypto mining before a successful pivot to AI.
Former professional soccer player Tim Brown and renewable resources expert Joey Zwillinger founded Allbirds in 2015, seeking to build sustainable shoes from natural materials. The company launched its debut shoe a year later and quickly transformed into a household name.
In 2021, Allbirds went public on the Nasdaq surging 90% in its market debut. The company also rapidly expanded its brick-and-mortar footprint.
Over the years, shares have slumped nearly 99% from a November 2021 high of $577.80 due to mounting competition and slowing trends.
BIRD stock year-to-date stock chart.
