tech
April 15, 2026
After sale of its shoe business, Allbirds pivots to AI
Allbirds is ditching wool sneakers for AI servers, rebranding as NewBird AI after locking in a $50M convertible financing facility.
TL;DR
- Allbirds sold its shoe brand and assets for $39 million.
- The company is rebranding as NewBird AI, focusing on GPU-as-a-Service and AI cloud solutions.
- NewBird AI secured a $50 million investment in the form of a convertible financing facility.
- The pivot involves acquiring GPU assets to offer AI compute capacity to customers.
- The transition is subject to stockholder approval, with a meeting scheduled for May 18.
- The original Allbirds brand and assets will continue to be produced by American Exchange Group.
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