Nike Turns to Google’s AI to Lift Sales, But NKE Stock Keeps Falling

Nike’s (NKE) shares dropped on Tuesday afternoon despite the athletic apparel maker announcing a tie-up with Alphabet’s (GOOGL) Google for AI-powered shopping for its customers.

According to the footwear company, when Google launches its multi-item cart shopping capability in the U.S. in early June, Nike product buyers will be able to purchase its items directly from Google’s Gemini app and the AI Mode on the tech giant’s search engine. The plan comes as Nike continues to face sales pressure and is chasing a “Win Now” turnaround strategy under CEO Elliot Hill.

Since the start of the year, Nike’s shares have dropped roughly 33%.