If you've raised money, it's difficult to give it back and then re-raise for the new thing. Lots of paperwork not just creating the new entity but in winding down the old and distributing funds back. Can it be done? Yes, surely. But it's not simple. That said, I don't know too many investors that would trust a shoe team to become an AI team. But obviously, there's one.

This way they pump the stock for a little while before the whole thing comes crashing down.