Allbirds announced it is pivoting from footwear to AI infrastructure and rebranding as NewBird AI. The company plans to acquire AI compute hardware and lease access under long-term agreements, alongside a deal to raise up to $50M. Shares surged 582% from under $3 to ~$17. Allbirds sold its IP and assets to American Exchange Group for $39M after sales fell from $298M in 2022 to $152M in 2025.
