Struggling shoe retailer Allbirds makes bizarre pivot to AI, adds $127 million in value
- Allbirds announced that it is pivoting from sustainable shoes to artificial intelligence.
- The company, valued at around $4 billion at its peak, sold its intellectual property and other assets two weeks ago for $39 million.
- The shoe company had a market cap of about $21 million Tuesday, which climbed to $148 million on Wednesday.
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