Peloton is revamping its treadmills with new features in the next phase of its turnaround

Peloton is betting that revamped treadmills, AI and new distribution channels can bring it back to sustained growth. The connected fitness company on Tuesday unveiled three new treadmills and new features for its Peloton IQ artificial intelligence platform with tools for runners, walkers and hikers. Peloton aims to widen its customer base, from people looking for a more affordable, space-saving treadmill to more experienced athletes looking for personalized coaching. "From record marathon turnouts around the world to the rise of local run clubs, we're rediscovering the joy of running, walking and hiking," said CEO Peter Stern in a press release. But the stakes remain higher than simply selling new equipment.