Overview
- Following Wednesday’s AI announcement, the stock spiked nearly 600% intraday and ended the week up about 350% after brief volatility halts under exchange rules.
- The company said it will shift from shoes to AI compute by buying high‑performance chips and leasing access to customers who cannot get capacity from big cloud providers.
- Management plans to rebrand the business as NewBird AI and seeks $50 million in new funding, with the company guiding to a second‑quarter close for the raise.
- In late March, Allbirds sold its footwear assets to American Exchange Group for $39 million, and the buyer will keep selling Allbirds‑branded shoes.
- Analysts questioned feasibility, citing limited capital, little data center experience, and deep losses as market researchers flagged meme‑style retail trading in the rally.