Allbirds Stock Spikes 400% on Pivot From Shoe Brand to AI Compute—Yes, Really

In brief Allbirds executed a definitive agreement with an institutional investor for a $50 million convertible financing facility. The sustainable footwear company announced it will pivot its business to AI compute infrastructure. The firm will sell the Allbirds brand and footwear assets to American Exchange Group and rebrand. Sustainable footwear company Allbirds announced Wednesday that…

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