Allbirds stock soars as shoemaker announces pivot to AI

SAN FRANCISCO — Shares of Allbirds surged more than 600% in early trading on Wednesday after the company announced it will rebrand as NewBird AI and pivot from footwear retail to focus on AI compute infrastructure. The move marks a dramatic corporate shift away from the brand’s environmental roots and its identity as a direct-to-consumer maker of casual footwear. Executives said the company will seek to acquire high-performance, low-latency compute hardware and provide access under long-term lease arrangements to meet intensifying global demand for resources used to train and operate artificial intelligence systems, a market they said is increasingly constrained by limited supply. Founded in 2015, Allbirds built a following with signature wool sneakers marketed as environmentally friendly alternatives, a reputation this pivot represents a sharp break from.