Allbirds Pivots to AI Computing Infrastructure, Stock Surges 400% on $50M Convertible
Allbirds, the sustainability-focused footwear company, is abandoning its core sneaker business to reinvent itself as an artificial intelligence computing infrastructure provider. The company announced plans to rebrand as NewBird AI and secured $50 million in convertible financing to acquire processing units and build AI infrastructure, triggering a dramatic 400% surge in its stock price. The…
