Allbirds ditches wool shoes for AI GPUs and its stock spikes 600%
Struggling shoe brand Allbirds is selling off its core assets and rebranding as NewBird AI to raise $50 million for high-performance GPUs and cloud computing. The announcement sent its stock soaring over 600 percent. While the company claims it will solve compute shortages, experts call it classic shell exploitation to chase AI hype rather than a real pivot.