Allbirds has made a dramatic pivot from footwear to artificial intelligence, rebranding itself as NewBird AI and sending its stock soaring. After struggling with declining sales and selling off its core business, the company is now betting on AI compute infrastructure and GPU services.

Dan Koh and Ryan Huang break down what’s driving the rally, the strategy behind the pivot, and whether this is a genuine turnaround story or a hype-driven move.