Allbirds pivots from shoes to AI servers after securing $50M funding

Allbirds, originally known for eco-friendly sneakers, announced a major business shift to AI compute infrastructure after securing $50 million in convertible financing. The company plans to become a GPU-as-a-Service and AI-native cloud solutions provider, rebranding as NewBird AI. This pivot follows the sale of its intellectual property and assets to American Exchange Group, marking a strategic exit from its previous retail focus. Shares surged over 200% on the news, reflecting investor optimism about the new direction.