- Application Form Allbirds‘ announcement of its shift from shoe manufacturing to cloud computing sent its shares soaring 370%.
- Allbirds plans to raise $50 million to acquire computing equipment.
On Wednesday, April 15, shoe company Allbirds surprised everyone with its announcement that it would radically shift its focus from shoe manufacturing to the use of artificial intelligence (AI).
В ARTICLES The investor page announced that the organization would refocus its business on computing infrastructure for AI, and the new company would operate under the name NewBird AI.
As part of the transformation, the company announced plans to raise up to $50 million, with the deal expected to close in the second quarter of 2026.
NewBird AI’s long-term goal is to become a fully integrated provider of cloud-based GPU-as-a-Service (GPUaaS) and AI solutions.
Over time, the company intends to evolve its neo-cloud platform by expanding its computing and service offerings, deepening partnerships with operators and customers, and evaluating strategic mergers and acquisitions, Allbirds stated.
The market reaction was swift and impressive – BIRD shares went up by more than 370%, trading at $11,90 at press time.
Perplexity Data
Last month, the company decided to sell its core Allbirds business, its intellectual property, and other assets to American Exchange Group for $39 million.
The company will initially seek to acquire high-performance, low-latency AI computing hardware and provide access to it on a long-term lease basis, meeting customer demand that spot markets and large providers are unable to reliably serve, Allbirds management commented.
American Exchange Group, a company specializing in managing accessories brands, plans to continue selling products under the Allbirds brand.
While the asset sale is not yet approved, the San Francisco-based clothing brand plans to pay a special dividend in the third quarter of 2026 to shareholders of record as of May 20.
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