Allbirds

BIRD

Market cap $94M

Allbirds stock initially rose 500% on news of its pivot into AI. The company's stock has lost nearly 98% of its value since its IPO in late 2021.

It can be hard to know when what goes up will come down.

A lasting end to the war in Iran would almost certainly be welcome news for tech companies' bottom lines.

It was quite the shocker to see shares of former Silicon Valley-loved footwear firm Allbirds (NASDAQ:BIRD) skyrocketing as much as 800% or so at its high point on Wednesday before closing quite a bit lower.

Allbirds plans to rebrand as NewBird AI and acquire GPUs to provide AI compute infrastructure after selling its footwear brand for $39 million to American Exchange Group.

Allbirds stock surged over 580% after the company announced a pivot to become an AI business. But what's really behind the move—and why are investors rewarding it?

The fashion sneaker company has secured $50 million in funding to pivot to AI.

After rising by more than 580% in a single trading session yesterday, shares of Allbirds Inc. (Nasdaq: BIRD) fell this morning in premarket and were down about 30% in early trading after markets opened.

Allbirds' plan to trade shoe stores for data centers won't be easy to pull off. The company needs more money, expertise, and relationships with hyperscalers.

A growing number of companies are reinventing themselves around artificial intelligence and digital assets, triggering sharp stock moves as investors reward tech-focused transformations. From footwear makers to legacy beverage brands, firms are leaning into AI, crypto, and data infrastructure to tap into renewed market enthusiasm.