After years of struggling, the former shoe company Allbirds (NASDAQ: BIRD) announced that it is pivoting to providing infrastructure for artificial intelligence (AI) on April 15, 2026.
The move, backed with $50 million from an unnamed institutional investor, led to an immediate market reaction as BIRD stock soared 582.33% within a single day – from $2.49 to $at the end of the session.
After hours trading and the April 16 pre-market, on the other hand, erased some of the gains with a 36.44% drop to $10.80.
Additionally, Allbirds’ decision prompted the former hedge fund manager and prominent TV personality, Jim Cramer, to voice what is arguably concern on X.
‘What a bunch of jokers and mountebanks,’ Jim Cramer reacts to Allbirds AI pivot
Specifically, in an April 15 social media post, Jim Cramer said that he wishes luck to Allbirds following their decision to pivot to becoming a GPU provider, but also criticized the entire situation as a sign that ‘things have gone too far.’
The ‘Mad Money’ host added, without explicitly naming anyone:
What a bunch of jokers and mountebanks they are…
While the famous TV personality didn’t go into detail, it appears he was reacting to the wider trend of companies either entering the AI sector in earnest or merely claiming to do so in a practice known as ‘AI washing.’
So far, the practice has been widely criticized since it often involves little material changes to a company and instead represents little more than the use of a popular buzzword.
Even prominent technology giants that are undeniably involved with the development of AI have faced similar criticism. For example, claiming that massive layoffs are due to automation, while simultaneously applying for record numbers of H-1B visas being a topic of particular contention.
Jim Cramer, judging by the language within his X post, appears to share at least some of the ill will towards the trend as well as toward investors who appear willing to play along with using trendy buzzwords for short-term stock boosts.
Featured image via Shutterstock
