Allbirds secures $50M convertible financing to pivot into AI compute infrastructure as NewBird AI.

Allbirds, Inc. has signed a $50 million convertible financing agreement to shift its business focus from footwear to AI compute infrastructure, planning to rebrand as NewBird AI. The company will use the funds to acquire high-performance GPU assets to serve AI compute needs, aiming to become a GPU-as-a-Service and AI-native cloud provider. This pivot follows the sale of the Allbirds brand to American Exchange Group, which will continue the footwear business. Stockholder approval is required for the financing and asset sale, with a special dividend expected in Q3 2026 for shareholders of record by May 20, 2026.