Allbirds soars as sneaker maker's AI shift sparks hype among retail investors

Allbirds

15/04/2026 17:19

Updates

** Shares of Allbirds BIRD.O surge nearly 700% to $20.55 as the shoemaker logs its busiest-ever session

** BIRD plans to pivot to AI computing infrastructure, rebrand itself as "NewBird AI"

** Announces it will execute a $50 million convertible financing agreement with an institutional investor

** BIRD was the fourth-most actively traded equity stock among retail investors, according data from J.P.Morgan as of 11 a.m. ET, indicating heightened interest in co among retail traders

** BIRD intends to use capital to acquire GPU assets and become a fully integrated GPU-as-a-service (GPUaaS) and AI cloud solutions provider in the long term

** Financing facility subject to shareholders' approval at May meeting

** Firm said on March 31 it was selling its brand and footwear assets to American Exchange Group for $39 mln

** A record 205 mln BIRD shares changed hands by 12:06 p.m. ET

** BIRD made its Nasdaq debut in 2021 at a valuation of $3 billion, but shed about 99% of its share value as of last close

 (Reporting by Purvi Agarwal and Medha Singh in Bengaluru)

 ((Purvi.Agarwal@thomsonreuters.com;))