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Allbirds Transforms from Footwear to AI, Sees Stock Surge 600%

KVIA•Wednesday, April 15, 2026 at 3:40 PM•CNN Newsource

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AI Summary

Allbirds, once known for its eco-friendly footwear, has announced a major shift towards artificial intelligence, resulting in a staggering 600% increase in its stock price. The company, which recently sold its shoe business for $39 million, will rebrand as 'NewBird AI' and focus on providing GPU-as-a-Service to tech startups. This transition marks a significant departure from its sustainability roots, as the company seeks to amend its charter to remove environmental commitments. The stock's rise comes as Allbirds' market value sits at approximately $165 million, a stark contrast to its peak valuation of $4 billion in 2021. Investors are encouraged to watch for upcoming shareholder votes regarding the company's new direction.

Key Details: • Allbirds sold its footwear assets for $39 million to American Exchange Group. • The company will be renamed 'NewBird AI' and focus on AI compute infrastructure. • A shareholder vote is scheduled for next month to amend the company's charter regarding environmental commitments. • Allbirds' market value is currently around $165 million.

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