Sneaker maker’s stock jumps 582% after rebranding as AI company

new York | Allbirds, the once-successful wool sneaker maker valued at more than $4 billion ($5.6 billion) at its peak, announced a new business plan just days before its permanent closure: AI computing infrastructure.

And in a stock market that has had a knee-jerk reaction to almost anything to do with artificial intelligence, he did just that – sending Allbirds shares up 582 per cent by the end of the US trading day on Wednesday (Thursday AEST).

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