Allbirds Sells Shoe Business and Pivots to AI with NewBird AI
Allbirds has sold its shoe business for $39 million and is rebranding as NewBird AI, a GPU-as-a-Service and AI-native cloud provider. The company has secured a $50 million investment from an undisclosed institutional investor and plans to use the funds to acquire GPU assets. The pivot comes after the sale of its brand and assets, with the company retaining its Nasdaq listing under the ticker symbol 'BIRD'.
Topics: AI Brand Sale Company Pivot GPU-as-a-Service Investment Stockholder Approval