From wool sneakers to GPUs: Allbirds’ desperate AI pivot and 600% stock surge, explained

Allbirds announced a strategic pivot to become an AI computing infrastructure company, securing $50 million in financing and rebranding as NewBirdAI with plans to offer GPU-as-a-Service and AI-native cloud solutions. The announcement drove a 600% stock surge despite the company having zero prior experience in AI, GPU procurement, or data centers. The company is simultaneously selling its original sneaker business to American Exchange Group for $39 million and shedding its environmental public benefit status.