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MarketBeat

Leo Miller

Allbirds Exits Shoes, Pivots to AI With NewBird Rebrand

BIRD Allbirds NewBird AI CoreWeave MarketBeat Nvidia

Once a trendy shoe brand among tech-oriented consumers, Allbirds (NASDAQ: BIRD) is undertaking a huge shift in its business model. The company has sold its shoe product portfolio and is now moving into the market’s most discussed area: artificial intelligence (AI) infrastructure.

Allbird’s AI pivot has caused its share price to skyrocket, surging by more than 580% on April 15. However, aside from parabolic gains and a move into the flashy AI investment theme, what is Allbird’s actual plan going forward? Here’s where the company has been, and what is known about its new strategy going forward.

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