All articles tagged with #newbird ai
Allbirds has rebranded to Smartbird and named Nadia Carlsten, formerly of AWS and a quantum computing center, as CEO as it pivots from footwear to AI compute infrastructure, after an earlier renaming to NewBird AI. The move follows the sale of its footwear assets and closure of U.S. stores, and shares jumped about 39% on the news.
Allbirds abandons its footwear roots to become AI hardware company NewBird AI, a move that sent its stock soaring about 660% in a day. The plan calls for leasing AI processing power, a pivot critics say could be a short-term FOMO play; the company has sold its shoe assets for $39M and aims to raise roughly $50M for initial chips. Leadership is still largely from the apparel side, and analysts have given BIRD a Hold, highlighting skepticism about building a true AI business without massive capital and expertise.
Allbirds announced a pivot from footwear to artificial intelligence, rebranding as NewBird AI and pursuing GPU-based AI compute infrastructure; the plan has sent its stock higher (intraday around 582%) while the company secures $50 million in funding and moves toward a sale to American Exchange Company, exiting its public-benefit status to become a conventional corporation and aiming to offer GPU-as-a-Service and AI-native cloud solutions—though the long-term viability of the strategy remains uncertain and the rally could be meme-driven.
Allbirds says it will shed its shoe business to become an AI-focused company named NewBird AI, selling its footwear assets for about $50 million and aiming to offer AI compute infrastructure, a move that sent its stock skyrocketing.
Allbirds pivots from footwear to AI compute infrastructure, renaming to NewBird AI with a $50 million funding commitment to build GPU-based compute and cloud services, as it exits the footwear business and sells its assets; stock jumped more than 300% on the announcement.
Allbirds, once valued above $4B and recently sold for $39M, is pivoting from footwear to AI compute infrastructure, aiming to become a GPU-as-a-Service and AI-native cloud provider and possibly rename to NewBird AI. It plans to raise $50M via convertible notes and seek a charter amendment to drop its environmental-conservation mandate, with a shareholder vote on May 18; premarket trading has shown volatile, speculative moves.
Allbirds says it is exiting footwear to become an AI compute company via a new entity named NewBird AI, after selling its IP/assets to American Exchange Group for $39 million two weeks earlier. NewBird AI plans to raise up to $50 million to acquire high-performance, low-latency AI hardware under long‑term leases, with a funding close expected in Q2 2026. American Exchange Group will continue to sell products under the Allbirds brand. Investors cheered the news, sending Allbirds’ shares up more than 300% in early trading and valuing the company around $20 million.