Allbirds pivots from shoes to AI, shares jump 370% on rebrand to NewBird AI

Allbirds announced a major shift from footwear to artificial intelligence, rebranding as NewBird AI and focusing on AI compute infrastructure. The company plans to raise $50 million by Q2 2026 and aims to become a GPU-as-a-Service and AI cloud solutions provider. This follows the sale of its shoe business assets to American Exchange Group for $39 million. Existing shareholders will retain exposure to the new AI business while the Allbirds brand continues under new ownership. The stock surged over 370% on the news, reflecting strong market excitement.