After sale of its shoe business, Allbirds pivots to AI
TechCrunch·2h ago·Neutral
What Happened
Allbirds sold its shoe brand and assets for $39 million last month. The company rebranded as NewBird AI, offering GPU-as-a-Service and AI cloud solutions. NewBird AI secured $50 million in convertible financing from an undisclosed investor. The company will use funds to acquire GPU assets for customers. Stockholder approval is required May 18. American Exchange Group now owns the Allbirds brand.
Key Entities
AllbirdsNewBird AIAmerican Exchange GroupNASDAQGPU-as-a-Service$39 million$50 million