By Nick Robins-Early
Publication Date: 2026-04-15 21:00:00
Allbirds, the maker of minimalist wool sneakers popular in Silicon Valley, announced Wednesday that it is ditching shoes and switching to artificial intelligence. The new focus and rebranding to “NewBird AI” sent the company’s stock up 582% during turbulent midday trading.
The rising stock price and new direction are a bizarre, rapid turnaround for a company that has been in decline in recent years. Once valued at $4 billion, Allbirds shares had lost 99% of their value since 2021, and earlier this month the company announced plans for a $39 million sale to brand management firm American Exchange Company.
Allbirds’ announcement that it will focus on purchasing graphics processors to support AI computing is considered one of the most confusing pivots of the AI boom, a time when many companies have tried to inject AI to appeal to investors and the market. The long-term viability of his plan is less clear than the immediate impact of the turn…