Key facts
- Allbirds has rebranded as Smartbird.
- The company has pivoted to AI infrastructure.
- Allbirds sold its footwear business.
- Nadia Carlsten has been appointed as CEO.
- The company is expanding financing to $100 million.
- The funds will be used for AI computing clusters.
- Shares rose over 50% on the news.
Allbirds has officially rebranded itself as Smartbird, marking a decisive shift from its consumer footwear origins to a focus on AI infrastructure. This strategic pivot follows the company's sale of its footwear business. Nadia Carlsten has been appointed as the new Chief Executive Officer, overseeing this new direction. The company is also expanding its financing capabilities, increasing its available funds to $100 million. This capital will be utilized for the development and expansion of its AI computing clusters. The market reacted positively to the news, with Allbirds' shares climbing over 50% following the announcement of the rebrand and strategic shift.