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Allbirds to Rebrand as Newbird AI and Sell Footwear Assets for GPU Investments
Allbirds, a shoe company, announced it will rebrand to Newbird AI and convert its assets to acquire high-performance GPU assets. The company is selling all of its brands and footwear as part of the shift to an AI focus. Its stock ($BIRD) rose as much as 875% on the day of the announcement.
Apr 15, 4:58 PM·1m read8 sources
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Allbirds announced it will rebrand to Newbird AI and shift from shoes to AI.
The company will convert its assets to acquire high-performance GPU assets. Allbirds is selling all of its brands and footwear. Allbirds stock ($BIRD) finished up 580% on the day of the announcement.
The stock was up as much as 875% during trading. It had been down 99% from its record high as of the previous day.
The stock ($BIRD) rose over 420% after the announcement of the shift from shoes to AI.
Allbirds is a shoe company that is now rebranding as an AI company.
The announcements mark a complete pivot for Allbirds from its footwear operations.
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CorroborationModerate · 8 sources
