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0.00178923371751908 0.00178923371751908 -0.00456844954270093 0.00360571464901046 0.00304260556024814 -0.000935487679718161 -0.000935487679718161 0.00269747418326477
Stock impact report

Allbirds Is Pivoting to AI After Selling Its Shoe Business for $39M [Yahoo! Finance]

Allbirds, Inc. - Class A (BIRD) 
Company Research Source: Yahoo! Finance
According to CNBC , the once high-flying sneaker company announced on Wednesday, April 15, that it is leaving the footwear business behind and rebranding itself as NewBird AI, a company focused on artificial intelligence compute infrastructure. COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess. Investors immediately bought into the move: shares surged more than 700%, climbing from under $3 to more than $17 in a single day. The company said it plans to raise up to $50 million in funding, with the deal expected to close during the second quarter of 2026. NewBird AI will use that money to acquire high-performance AI hardware and lease it to customers under long-term agreements. “The Company will initially seek to acquire high-performance, low-latency AI compute hardware and provide access under long-term lease arrangements, meeting customer demand that spot markets and hyperscalers are unable to reliably service,” it said in Show less Read more
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