Allbirds shoe company pivots to artificial intelligence business

Allbirds, the shoe company that was once a favorite on Wall Street, is making a major shift in its business. The company, which has struggled financially, is now moving into the artificial intelligence sector, specifically looking at developing AI chips.

This is a surprising change for a brand known for its wool sneakers and sustainable footwear. The company's pivot to AI is being described as an attempt to find a new future after its core shoe business fell on hard times.