Allbirds continues AI pivot with name change and CEO hire, sending stock soaring
Allbirds became NewBird AI in April and said it would trade shoes for AI compute infrastructure.
TL;DR
- Allbirds has rebranded to Smartbird and appointed Nadia Carlsten as CEO.
- Carlsten previously worked at Amazon Web Services and the U.S. Department of Homeland Security.
- The company is shifting its focus from shoemaking to AI compute infrastructure and hardware.
- Allbirds sold its footwear assets for $39 million and closed U.S. stores.
- The company's stock (BIRD) surged 39% on the day of the announcement.
- This pivot follows a trend of companies refocusing on AI to capitalize on the tech boom.