tech
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.