Allbirds Sells Assets, Pivots to AI Infrastructure

Allbirds Inc., the San Francisco-based sustainable footwear company, announced on April 15, 2026, that it is pivoting its entire business to artificial intelligence compute infrastructure, selling its brand and assets to a separate firm while securing new funding to enter the AI sector. The move, which includes rebranding to NewBird AI, triggered a sharp rally in the company's shares, which rose more than 350 percent to trade around $11 per share by midday.

The company entered into a definitive agreement last month to sell its intellectual property, brand name, and footwear-related assets to American Exchange Group, a brand management firm specializing in accessories, for $39 million. The transaction, approved by Allbirds' board and negotiated by a special committee of independent directors, is subject to shareholder approval at a special meeting scheduled for May 18, 2026, with a record date of April 13. If approved, the deal is expected to close in the second quarter of 2026, allowing American Exchange Group to continue producing and selling products under the Allbirds name for existing customers.

In parallel, Allbirds executed a definitive agreement with an undisclosed...