Allbirds continues AI pivot with name change and CEO hire, sending stock soaring

Live updates

1. 29d ago

   Allbirds Rebrands as Smartbird and Pivots to AI Infrastructure

   Allbirds has officially rebranded as Smartbird and appointed former AWS executive Nadia Carlsten as CEO. The company is transitioning into an AI infrastructure provider offering managed services. This shift follows the complete sale of its footwear business and assets.

   What's confirmed:

   • Allbirds rebranded as Smartbird and appointed former AWS executive Nadia Carlsten as CEO.
   • The company sold its footwear brands and related assets to American Exchange Group and WSG Brands for $39 million on 17 June.
   • Smartbird is pivoting to provide AI infrastructure as a managed service.
   • The company expanded its financing line to $100 million for GPU purchases targeting midmarket clients.
   • The corporate transition triggered a surge in the company's share price.
   • Nadia Carlsten replaced Joe Vernachio as chief executive.

   Still unconfirmed:

   • The company currently has no employees or customers.
   • Smartbird is dropping its public-benefit status.
   • The stock surged specifically by 45%.
   confidence 95%
2. 36d ago

   Allbirds Rebrands as Smartbird to Provide AI Infrastructure

   The former footwear company has rebranded as Smartbird and appointed Nadia Carlsten as CEO. The business now focuses on purchasing GPUs to rent AI compute capacity to customers. This shift follows the sale of its shoe business and intellectual property.

   What's confirmed:

   • Allbirds rebranded as Smartbird and appointed Nadia Carlsten as CEO.
   • The company sold its shoe business and intellectual property for $39 million.
   • Smartbird is now an AI infrastructure provider.

   Still unconfirmed:

   • The company was close to insolvency before the pivot announcement.
   • The company is also referred to as NewBird AI.
   confidence 90%
3. 37d ago

   Allbirds Completes Transition to AI Infrastructure as Smartbird

   The former footwear company has officially rebranded as Smartbird and ceased all shoe sales. Nadia Carlsten, a former AWS executive, has taken over as president and CEO. The company is now an AI infrastructure provider.

   What's confirmed:

   • Allbirds rebranded as Smartbird.
   • The company stopped selling shoes to become an AI infrastructure provider.
   • Nadia Carlsten, a former AWS executive, is the new president and CEO.
   • Smartbird shares rose about 50% to $5.92.
   • Nadia Carlsten joined the board of directors.

   Still unconfirmed:

   • Smartbird expanded convertibles from $50M to $100M.
   • CEO Nadia Carlsten stated that people will not remember the shoes in a few months.
   confidence 95%
4. 38d ago

   Allbirds Rebrands as Smartbird and Hires New CEO Amid AI Pivot

   Allbirds has rebranded to Smartbird and appointed a former AWS executive as CEO. The company is shifting its focus from footwear to providing AI infrastructure. This strategic pivot has led to a significant surge in stock price.

   What's confirmed:

   • Allbirds rebranded itself as Smartbird.
   • The company appointed a former AWS executive as its new CEO.
   • Allbirds is pivoting from selling shoes to providing AI infrastructure.
   • The company's stock price increased following the rebrand and CEO hire.

   Still unconfirmed:

   • Allbirds stock surged over 50% after the rebrand.
   • Allbirds shares soared 580% after the pivot.
   • The company previously rebranded as NewBird AI in April.
   • The new CEO stated that people will not even remember the shoes.
   confidence 90%