{"id":3020,"date":"2026-04-19T02:13:39","date_gmt":"2026-04-18T19:13:39","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/19\/allbirds-chuyen-huong-ai-tu-hang-giay-lao-dao-den-muc-tang-truong-800-bong-bong-hay-co-hoi-that-2\/"},"modified":"2026-04-19T02:13:39","modified_gmt":"2026-04-18T19:13:39","slug":"allbirds-chuyen-huong-ai-tu-hang-giay-lao-dao-den-muc-tang-truong-800-bong-bong-hay-co-hoi-that-2","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/19\/allbirds-chuyen-huong-ai-tu-hang-giay-lao-dao-den-muc-tang-truong-800-bong-bong-hay-co-hoi-that-2\/","title":{"rendered":"Allbirds Chuy\u1ec3n H\u01b0\u1edbng AI: T\u1eeb H\u00e3ng Gi\u00e0y Lao \u0110ao \u0110\u1ebfn M\u1ee9c T\u0103ng Tr\u01b0\u1edfng 800% \u2013 Bong B\u00f3ng Hay C\u01a1 H\u1ed9i Th\u1eadt?"},"content":{"rendered":"
\n

Trong m\u1ed9t di\u1ec5n bi\u1ebfn g\u00e2y ch\u1ea5n \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Ph\u1ed1 Wall, c\u1ed5 phi\u1ebfu c\u1ee7a Allbirds, nh\u00e0 s\u1ea3n xu\u1ea5t gi\u00e0y d\u00e9p t\u1eebng g\u1eb7p nhi\u1ec1u kh\u00f3 kh\u0103n, \u0111\u00e3 ch\u1ee9ng ki\u1ebfn m\u1ee9c t\u0103ng phi m\u00e3 h\u01a1n 800% ch\u1ec9 trong m\u1ed9t th\u1eddi \u0111i\u1ec3m v\u00e0o th\u1ee9 T\u01b0. C\u00fa h\u00edch \u0111\u00e1ng kinh ng\u1ea1c n\u00e0y kh\u00f4ng \u0111\u1ebfn t\u1eeb b\u1ea5t k\u1ef3 \u0111\u1ed9t ph\u00e1 s\u1ea3n ph\u1ea9m gi\u00e0y d\u00e9p n\u00e0o, m\u00e0 l\u00e0 t\u1eeb th\u00f4ng b\u00e1o t\u00e1o b\u1ea1o v\u1ec1 vi\u1ec7c t\u00e1i th\u01b0\u01a1ng hi\u1ec7u th\u00e0nh “NewBird AI” v\u00e0 chuy\u1ec3n d\u1ecbch tr\u1ecdng t\u00e2m sang c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng \u0111i\u1ec7n to\u00e1n (compute infrastructure) \u1ee9ng d\u1ee5ng tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o.<\/p>\n

S\u1ef1 ki\u1ec7n n\u00e0y m\u1ed9t l\u1ea7n n\u1eefa gi\u00f3ng l\u00ean h\u1ed3i chu\u00f4ng c\u1ea3nh b\u00e1o v\u1ec1 “c\u01a1n s\u1ed1t AI” \u0111ang c\u00e0n qu\u00e9t th\u1ecb tr\u01b0\u1eddng, khi gi\u00e1 tr\u1ecb c\u1ee7a m\u1ed9t c\u00f4ng ty c\u00f3 th\u1ec3 t\u0103ng v\u1ecdt ch\u1ec9 nh\u1edd g\u1eafn nh\u00e3n “AI”, b\u1ea5t ch\u1ea5p t\u00ecnh h\u00ecnh kinh doanh c\u1ed1t l\u00f5i. Li\u1ec7u \u0111\u00e2y l\u00e0 m\u1ed9t b\u01b0\u1edbc chuy\u1ec3n m\u00ecnh mang t\u00ednh \u0111\u1ed9t ph\u00e1 hay ch\u1ec9 l\u00e0 m\u1ed9t “bong b\u00f3ng” \u0111\u1ea7u c\u01a1 m\u1edbi?<\/p>\n

Ph\u00e2n T\u00edch Chi Ti\u1ebft C\u00fa N\u1ed5 Allbirds: Ti\u1ec1n T\u1ef7 \u0110\u1ed5 V\u00e0o M\u1ed9t “C\u00e1i T\u00ean M\u1edbi”<\/h2>\n

Ch\u1ec9 m\u1ed9t ng\u00e0y tr\u01b0\u1edbc khi c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch “AI h\u00f3a”, gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ee7a Allbirds v\u1ecfn v\u1eb9n ch\u1ec9 21 tri\u1ec7u USD<\/strong>. Tuy nhi\u00ean, sau th\u00f4ng b\u00e1o g\u00e2y s\u1ed1c n\u00e0y, c\u1ed5 phi\u1ebfu c\u00f4ng ty \u0111\u00e3 t\u0103ng v\u1ecdt, b\u1ed5 sung th\u00eam h\u01a1n 100 tri\u1ec7u USD<\/strong> v\u00e0o v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a m\u00ecnh. \u0110\u00e2y l\u00e0 m\u1ed9t con s\u1ed1 \u0111\u00e1ng kinh ng\u1ea1c, cho th\u1ea5y s\u1ee9c m\u1ea1nh c\u1ee7a t\u00e2m l\u00fd nh\u00e0 \u0111\u1ea7u t\u01b0 khi \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng “t\u1eeb kh\u00f3a v\u00e0ng” nh\u01b0 AI.<\/p>\n

D\u1eef li\u1ec7u t\u1eeb Vanda Research cho th\u1ea5y, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n \u0111\u00e3 nhanh ch\u00f3ng \u0111\u00f3n nh\u1eadn c\u00e2u chuy\u1ec7n m\u1edbi n\u00e0y. L\u01b0\u1ee3ng mua r\u00f2ng c\u1ee7a h\u1ecd \u0111\u00e3 \u0111\u1ea1t k\u1ef7 l\u1ee5c 5,2 tri\u1ec7u USD<\/strong> ch\u1ec9 trong m\u1ed9t ng\u00e0y, v\u01b0\u1ee3t qua c\u1ea3 nhu c\u1ea7u mua v\u00e0o trong \u0111\u1ee3t IPO n\u0103m 2021 c\u1ee7a Allbirds. \u0110i\u1ec1u n\u00e0y ph\u1ea3n \u00e1nh r\u00f5 n\u00e9t s\u1ef1 tr\u1edf l\u1ea1i c\u1ee7a “tinh th\u1ea7n \u0111\u1ed9ng v\u1eadt” (animal spirits) trong gi\u1edbi \u0111\u1ea7u t\u01b0 nh\u1ecf l\u1ebb, \u0111\u1eb7c bi\u1ec7t khi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n r\u1ed9ng l\u1edbn \u0111\u00e3 ph\u1ee5c h\u1ed3i m\u1ea1nh m\u1ebd sau nh\u1eefng lo ng\u1ea1i \u0111\u1ecba ch\u00ednh tr\u1ecb, v\u1edbi S&P 500 ch\u1ea1m m\u1ee9c cao k\u1ef7 l\u1ee5c m\u1edbi.<\/p>\n

“AI” \u2013 T\u1eeb Kh\u00f3a V\u00e0ng Hay “Bong B\u00f3ng” M\u1edbi Trong Th\u1ecb Tr\u01b0\u1eddng \u0110\u1ecbnh Gi\u00e1 “C\u00e2u Chuy\u1ec7n”?<\/h2>\n

Mark Malek, CIO t\u1ea1i Siebert Financial, \u0111\u00e3 nh\u1eadn \u0111\u1ecbnh s\u1eafc b\u00e9n: “Th\u1ecb tr\u01b0\u1eddng kh\u00f4ng \u0111\u1ecbnh gi\u00e1 r\u1ee7i ro. N\u00f3 \u0111\u1ecbnh gi\u00e1 c\u00e2u chuy\u1ec7n. N\u00f3 \u0111\u1ecbnh gi\u00e1 t\u1eeb ‘AI’ gi\u1ed1ng nh\u01b0 c\u00e1ch n\u00f3 t\u1eebng \u0111\u1ecbnh gi\u00e1 t\u1eeb ‘blockchain’ v\u00e0 tr\u01b0\u1edbc \u0111\u00f3 l\u00e0 h\u1eadu t\u1ed1 ‘.com'”. \u00d4ng nh\u1ea5n m\u1ea1nh th\u00eam: “\u0110\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 ph\u00e2n t\u00edch. \u0110\u00e2y l\u00e0 s\u1ef1 kh\u1edbp n\u1ed1i m\u00f4 h\u00ecnh d\u1ef1a tr\u00ean m\u1ed9t t\u1eeb kh\u00f3a th\u1eddi th\u01b0\u1ee3ng c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 ch\u1ee9ng ki\u1ebfn c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan \u0111\u1ebfn AI t\u0103ng phi m\u00e3 v\u00e0 kh\u00f4ng mu\u1ed1n b\u1ecf l\u1ee1 \u0111\u1ee3t t\u0103ng tr\u01b0\u1edfng ti\u1ebfp theo. T\u00edn hi\u1ec7u n\u00e0y kh\u00f4ng h\u1ec1 tinh t\u1ebf.”<\/p>\n

L\u1eddi nh\u1eadn \u0111\u1ecbnh n\u00e0y \u0111\u00e3 l\u1ed9t t\u1ea3 ch\u00ednh x\u00e1c b\u1ea3n ch\u1ea5t c\u1ee7a \u0111\u1ee3t t\u0103ng gi\u00e1 Allbirds. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u01b0\u1eddng nh\u01b0 b\u1ecf qua c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n, l\u1ecbch s\u1eed kinh doanh thua l\u1ed7 c\u1ee7a Allbirds \u0111\u1ec3 ch\u1ea1y theo m\u1ed9t “narrative” h\u1ea5p d\u1eabn, m\u1ed9t c\u00e2u chuy\u1ec7n \u0111\u1ea7y h\u1ee9a h\u1eb9n v\u1ec1 t\u01b0\u01a1ng lai c\u00f4ng ngh\u1ec7.<\/p>\n

T\u00e2m L\u00fd Nh\u00e0 \u0110\u1ea7u T\u01b0 C\u00e1 Nh\u00e2n v\u00e0 S\u1ef1 Tr\u1ed7i D\u1eady C\u1ee7a “Meme Stock”: M\u1ed9t K\u1ecbch B\u1ea3n L\u1eb7p L\u1ea1i<\/h2>\n

S\u1ef1 ra \u0111\u1eddi c\u1ee7a c\u00e1c n\u1ec1n t\u1ea3ng giao d\u1ecbch mi\u1ec5n ph\u00ed hoa h\u1ed3ng \u0111\u00e3 m\u1edf \u0111\u01b0\u1eddng cho m\u1ed9t th\u1ebf h\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n m\u1edbi, gi\u1ea3m chi ph\u00ed \u0111\u1ea7u c\u01a1 v\u00e0 \u0111\u1ea9y nhanh s\u1ef1 lan truy\u1ec1n c\u1ee7a c\u00e1c giao d\u1ecbch “meme stock”. \u0110\u1ed9ng l\u1ef1c n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1ec3 hi\u1ec7n r\u00f5 n\u00e9t trong s\u1ef1 ki\u1ec7n GameStop n\u0103m 2021, khi vi\u1ec7c mua v\u00e0o c\u00f3 s\u1ef1 ph\u1ed1i h\u1ee3p c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n \u0111\u00e3 \u0111\u1ea9y gi\u00e1 c\u1ed5 phi\u1ebfu l\u00ean cao ng\u1ea5t ng\u01b0\u1edfng, g\u00e2y thi\u1ec7t h\u1ea1i n\u1eb7ng n\u1ec1 cho nh\u1eefng ng\u01b0\u1eddi b\u00e1n kh\u1ed1ng.<\/p>\n

Tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Allbirds cho th\u1ea5y k\u1ecbch b\u1ea3n n\u00e0y v\u1eabn ti\u1ebfp t\u1ee5c t\u00e1i di\u1ec5n d\u01b0\u1edbi nhi\u1ec1u h\u00ecnh th\u1ee9c kh\u00e1c nhau. Nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1ecf l\u1ebb, \u0111\u01b0\u1ee3c trang b\u1ecb c\u00f4ng c\u1ee5 d\u1ec5 d\u00e0ng ti\u1ebfp c\u1eadn th\u1ecb tr\u01b0\u1eddng v\u00e0 th\u00f4ng tin (d\u00f9 \u0111\u00f4i khi l\u00e0 th\u00f4ng tin gi\u1eadt g\u00e2n), c\u00f3 xu h\u01b0\u1edbng d\u1ec5 b\u1ecb cu\u1ed1n v\u00e0o c\u00e1c l\u00e0n s\u00f3ng \u0111\u1ea7u c\u01a1, n\u01a1i n\u1ed7i s\u1ee3 b\u1ecf l\u1ee1 (FOMO) l\u1ea5n \u00e1t nh\u1eefng \u0111\u00e1nh gi\u00e1 l\u00fd tr\u00ed.<\/p>\n

B\u00e0i H\u1ecdc T\u1eeb Qu\u00e1 Kh\u1ee9: V\u1ebft Xe \u0110\u1ed5 Algorhythm Holdings<\/h2>\n

\u0110\u1ec3 minh h\u1ecda r\u00f5 h\u01a1n cho s\u1ef1 ph\u00f9 du c\u1ee7a nh\u1eefng \u0111\u1ee3t t\u0103ng gi\u00e1 d\u1ef1a tr\u00ean “c\u00e2u chuy\u1ec7n”, ch\u00fang ta c\u00f3 th\u1ec3 nh\u00ecn v\u00e0o v\u00ed d\u1ee5 g\u1ea7n \u0111\u00e2y v\u1ec1 Algorhythm Holdings. C\u00f4ng ty s\u1ea3n xu\u1ea5t m\u00e1y karaoke v\u00e0 thi\u1ebft b\u1ecb \u0111i\u1ec7n t\u1eed ti\u00eau d\u00f9ng \u00edt t\u00ean tu\u1ed5i n\u00e0y \u0111\u00e3 g\u00e2y s\u1ed1c th\u1ecb tr\u01b0\u1eddng khi tuy\u00ean b\u1ed1 chuy\u1ec3n m\u00ecnh th\u00e0nh n\u1ec1n t\u1ea3ng \u0111i\u1ec7n to\u00e1n v\u00e0 logistics d\u1ef1a tr\u00ean AI. “S\u1ef1 thay \u0111\u1ed5i trong c\u00e2u chuy\u1ec7n \u0111\u00f3 \u0111\u00e3 \u0111\u1ee7 \u0111\u1ec3 k\u00edch ho\u1ea1t m\u1ed9t \u0111\u1ee3t t\u0103ng m\u1ea1nh trong d\u00f2ng ti\u1ec1n c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n, v\u1edbi vi\u1ec7c mua v\u00e0o k\u00e9o d\u00e0i sau ti\u00eau \u0111\u1ec1 ban \u0111\u1ea7u v\u00e0 gi\u00fap \u0111\u1ea9y c\u1ed5 phi\u1ebfu t\u0103ng m\u1ed9t \u0111\u1ee3t th\u1ee9 hai,” Vanda Research cho bi\u1ebft.<\/p>\n

Tuy nhi\u00ean, s\u1ef1 nhi\u1ec7t t\u00ecnh \u0111\u00f3 ch\u1ec9 t\u1ed3n t\u1ea1i trong th\u1eddi gian ng\u1eafn ng\u1ee7i. C\u1ed5 phi\u1ebfu Algorhythm \u0111\u00e3 nhanh ch\u00f3ng quay tr\u1edf l\u1ea1i m\u1ee9c kho\u1ea3ng 1 USD<\/strong>, minh ch\u1ee9ng cho vi\u1ec7c c\u00e1c kho\u1ea3n l\u1ee3i nhu\u1eadn d\u1ef1a tr\u00ean c\u00e2u chuy\u1ec7n c\u00f3 th\u1ec3 b\u1ed1c h\u01a1i nhanh ch\u00f3ng nh\u01b0 th\u1ebf n\u00e0o.<\/p>\n

R\u1ee7i Ro Hi\u1ec7n H\u1eefu v\u00e0 Tri\u1ec3n V\u1ecdng Allbirds: D\u1ea5u Hi\u1ec7u H\u1ea1 Nhi\u1ec7t \u0110\u00e3 Xu\u1ea5t Hi\u1ec7n<\/h2>\n

Ngay c\u1ea3 Allbirds c\u0169ng kh\u00f4ng tho\u00e1t kh\u1ecfi quy lu\u1eadt kh\u1eafc nghi\u1ec7t n\u00e0y. \u0110\u00e0 t\u0103ng c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00e3 nhanh ch\u00f3ng cho th\u1ea5y d\u1ea5u hi\u1ec7u c\u0103ng th\u1eb3ng, v\u1edbi m\u1ee9c gi\u1ea3m h\u01a1n 20%<\/strong> v\u00e0o th\u1ee9 N\u0103m, ch\u1ec9 m\u1ed9t ng\u00e0y sau c\u00fa n\u1ed5. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y s\u1ef1 mong manh c\u1ee7a c\u00e1c \u0111\u1ee3t t\u0103ng gi\u00e1 kh\u00f4ng d\u1ef1a tr\u00ean n\u1ec1n t\u1ea3ng kinh doanh v\u1eefng ch\u1eafc v\u00e0 nh\u1eefng thay \u0111\u1ed5i chi\u1ebfn l\u01b0\u1ee3c c\u00f3 t\u00ednh kh\u1ea3 thi.<\/p>\n

\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 b\u1ecf l\u1ee1 \u0111\u1ee3t t\u0103ng gi\u00e1 ban \u0111\u1ea7u, vi\u1ec7c c\u1ed1 g\u1eafng “\u0111u \u0111\u1ec9nh” nh\u1eefng c\u1ed5 phi\u1ebfu nh\u01b0 Allbirds c\u00f3 th\u1ec3 ti\u1ec1m \u1ea9n r\u1ee7i ro c\u1ef1c k\u1ef3 l\u1edbn. C\u00e1c chuy\u00ean gia lu\u00f4n khuy\u1ebfn c\u00e1o c\u1ea7n c\u00f3 s\u1ef1 ph\u00e2n t\u00edch k\u1ef9 l\u01b0\u1ee1ng v\u1ec1 m\u00f4 h\u00ecnh kinh doanh, ti\u1ec1m n\u0103ng th\u1ef1c s\u1ef1 c\u1ee7a c\u00f4ng ngh\u1ec7 \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng, v\u00e0 n\u0103ng l\u1ef1c tri\u1ec3n khai c\u1ee7a ban l\u00e3nh \u0111\u1ea1o, thay v\u00ec ch\u1ec9 ch\u1ea1y theo nh\u1eefng “t\u1eeb kh\u00f3a n\u00f3ng” hay s\u1ef1 fomo c\u1ee7a \u0111\u00e1m \u0111\u00f4ng.<\/p>\n

K\u1ebft Lu\u1eadn: B\u00e0i H\u1ecdc C\u1ea3nh Gi\u00e1c T\u1eeb “Bong B\u00f3ng AI”<\/h2>\n

C\u00e2u chuy\u1ec7n c\u1ee7a Allbirds l\u00e0 m\u1ed9t l\u1eddi nh\u1eafc nh\u1edf m\u1ea1nh m\u1ebd r\u1eb1ng th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh, \u0111\u1eb7c bi\u1ec7t l\u00e0 trong nh\u1eefng th\u1eddi \u0111i\u1ec3m h\u01b0ng ph\u1ea5n, c\u00f3 th\u1ec3 b\u1ecb chi ph\u1ed1i b\u1edfi c\u1ea3m x\u00fac v\u00e0 c\u00e2u chuy\u1ec7n h\u01a1n l\u00e0 c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n. T\u1eeb “AI” \u0111ang tr\u1edf th\u00e0nh m\u1ed9t ch\u1ea5t x\u00fac t\u00e1c m\u1ea1nh m\u1ebd, nh\u01b0ng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n h\u1ebft s\u1ee9c t\u1ec9nh t\u00e1o \u0111\u1ec3 ph\u00e2n bi\u1ec7t gi\u1eefa \u0111\u1ed5i m\u1edbi th\u1ef1c s\u1ef1 v\u00e0 nh\u1eefng chi\u00eau tr\u00f2 “marketing” nh\u1eb1m th\u1ed5i ph\u1ed3ng gi\u00e1 tr\u1ecb.<\/p>\n

\u0110\u1ec3 b\u1ea3o v\u1ec7 danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean t\u1eadp trung v\u00e0o vi\u1ec7c nghi\u00ean c\u1ee9u k\u1ef9 l\u01b0\u1ee1ng, \u0111\u00e1nh gi\u00e1 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng, v\u00e0 tr\u00e1nh xa nh\u1eefng c\u01a1n s\u1ed1t \u0111\u1ea7u c\u01a1 ng\u1eafn h\u1ea1n. B\u00e0i h\u1ecdc t\u1eeb Algorhythm v\u00e0 th\u1eadm ch\u00ed l\u00e0 GameStop v\u1eabn c\u00f2n \u0111\u00f3: l\u1ee3i nhu\u1eadn “tr\u00ean tr\u1eddi” th\u01b0\u1eddng \u0111i k\u00e8m v\u1edbi r\u1ee7i ro “d\u01b0\u1edbi \u0111\u1ea5t”.<\/p>\n

B\u00c0I VI\u1ebeT LI\u00caN QUAN:<\/h3>\n