Struggling footwear company Allbirds exits apparel business to chase AI infrastructure hype, mirroring dot-com era corporate pivots.

Allbirds is abandoning its core clothing and shoe business to rebrand as an AI compute infrastructure company

The move is characterized as a desperate stock-boosting strategy similar to the 2017 'Long Island Blockchain' craze when companies added crypto to their names

The pivot reflects how some struggling firms are chasing AI hype to attract investor interest rather than addressing fundamental business challenges