Allbirds to Sell Footwear Assets for $39 Million, Secures $50 Million Financing Amid Planned AI Business Pivot

# Allbirds Agrees to Sell Brand and Footwear Assets for $39 Million, Secures $50 Million Financing for AI Pivot Allbirds, Inc. entered into a definitive agreement to sell the Allbirds brand and footwear assets to American Exchange Group for $39 million. The company executed a definitive agreement with an institutional investor for a $50 million convertible financing facility.

Both the sale and financing are subject to stockholder approval at a meeting planned for May 18. The $50 million convertible financing facility is expected to close during the second quarter of 2026. Allbirds plans to pivot its business to AI compute infrastructure and anticipates changing its name to NewBird AI.

The company announced the pivot and financing via its investor relations site on Wednesday.

NewBird AI to Deploy GPU Assets for Compute Services NewBird AI expects to use initial capital from the financing facility to acquire high-performance GPU assets.

The company plans to deploy acquired GPU assets to serve customers requiring dedicated access to AI compute capacity. NewBird AI plans to provide access to high-performance, low-latency AI compute hardware under long-term lease arrangements. NewBird AI intends to grow its neocloud platform by expanding compute and service offerings, deepening partnerships with operators and customers, and evaluating strategic M&A opportunities.

The long-term vision of NewBird AI is to become a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider.

Stock Response and Dividend Plans Allbirds stock increased as much as 360% after the announcement.

The company has been traded on NASDAQ under the ticker symbol BIRD. If the sale goes through, stockholders will receive a dividend during the third quarter.

American Exchange Group's Intentions American Exchange Group intends to continue building on Allbirds’ legacy and deliver products to Allbirds’ customers.