Allbirds continues AI pivot with name change and CEO hire, sending stock soaring

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. Stock Chart Icon Stock chart icon BIRD stock year-to-date stock chart.