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00:02Allbirds announced Wednesday it is pivoting from footwear to artificial intelligence infrastructure
00:07and will rebrand as Newbird AI, according to CNBC. The company said it plans to acquire AI
00:14compute hardware and lease access under long-term agreements. It also announced a deal to raise up
00:19to $50 million, expected to close in the second quarter of 2026. Shares surged 582% from under
00:28$3 to about $17. The move follows a $39 million deal to sell its intellectual property and assets
00:35to American Exchange Group, which will continue selling Allbirds products. Allbirds closed all
00:40U.S. full-priced stores in February as sales fell from $298 million in 2022 to $152 million in 2025.
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