Allbirds is transitioning to AI, and its stock has soared by 600%
16 april 2026 в 22:13
The company Allbirds, known for producing footwear popular among affluent millennials, has announced a shift towards artificial intelligence. Following this announcement, the brand’s stock soared, but a question arose: will the company continue to sell shoes or completely abandon its original product?
At the «Bits & Pretzels» technology conference in Germany in 2019, Allbirds co-founder Joey Zwillinger spoke about the company’s mission and goals. He noted that there is a huge opportunity in the footwear industry to produce 20 billion pairs of shoes a year without considering the environmental impact, and to use this as a platform to create something special. «I am confident that our early success was due to the clarity of our message and the uniqueness we offer to consumers», - he added.
Zwillinger also emphasized that brands need to represent something more than just a profit motive; otherwise, they will have no chance of surviving on the global stage.
Regarding Allbirds' transition to artificial intelligence, the company’s press release states that the sale of the brand to American Exchange Group will allow it to focus on AI computing infrastructure.
«Following the announcement that we have entered into a definitive agreement to sell the Allbirds brand and the footwear assets to American Exchange Group, which intends to continue the Allbirds legacy and offer appealing products to our customers, Allbirds, Inc. (Nasdaq: BIRD) today announced that it has entered into a definitive agreement with an institutional investor for financing of $ 50 million», - the press release states.
Allbirds will now be called «NewBird AI». Technically, Allbirds shoes will still be sold, but no longer under the same brand. The sale of the Allbirds brand to American Exchange Group will allow the company to continue producing and selling footwear.
After the announcement of the shift to AI, Allbirds' stock rose by 400−600% in one day; however, it soon fell by 25−30% from its peak value
At the «Bits & Pretzels» technology conference in Germany in 2019, Allbirds co-founder Joey Zwillinger spoke about the company’s mission and goals. He noted that there is a huge opportunity in the footwear industry to produce 20 billion pairs of shoes a year without considering the environmental impact, and to use this as a platform to create something special. «I am confident that our early success was due to the clarity of our message and the uniqueness we offer to consumers», - he added.
Zwillinger also emphasized that brands need to represent something more than just a profit motive; otherwise, they will have no chance of surviving on the global stage.
Regarding Allbirds' transition to artificial intelligence, the company’s press release states that the sale of the brand to American Exchange Group will allow it to focus on AI computing infrastructure.
«Following the announcement that we have entered into a definitive agreement to sell the Allbirds brand and the footwear assets to American Exchange Group, which intends to continue the Allbirds legacy and offer appealing products to our customers, Allbirds, Inc. (Nasdaq: BIRD) today announced that it has entered into a definitive agreement with an institutional investor for financing of $ 50 million», - the press release states.
Allbirds will now be called «NewBird AI». Technically, Allbirds shoes will still be sold, but no longer under the same brand. The sale of the Allbirds brand to American Exchange Group will allow the company to continue producing and selling footwear.
After the announcement of the shift to AI, Allbirds' stock rose by 400−600% in one day; however, it soon fell by 25−30% from its peak value
© Smirnova Olga
