Allbirds Rebrands as Smartbird, Pivots from Footwear to AI Infrastructure
Allbirds, the former sustainable sneaker brand once valued at $4 billion, has rebranded as Smartbird and appointed former AWS executive Nadia Carlsten as CEO. The company sold its footwear assets for $39 million and shifted focus to AI infrastructure, targeting mid-market enterprises and sovereign AI projects. The pivot, announced in April 2025, caused stock surges of up to 800%, though shares later corrected. Smartbird expanded its convertible financing to $100 million to acquire GPUs and build AI clusters.
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Allbirds Completes Pivot to AI Firm, American Exchange Group Acquires Footwear Business
Allbirds Inc. has officially transitioned from a sneaker brand to an AI infrastructure company, renaming itself Smartbird Inc. and appointing Nadia Carlsten as CEO. The company sold its intellectual property and footwear assets to American Exchange Group for $39 million, in partnership with WSG Brands. American Exchange will design and manufacture footwear, while WSG handles brand management and expansion. Smartbird also increased its convertible financing facility from $50 million to $100 million to strengthen its balance sheet. The pivot follows declining revenue, with a 23.3% drop in Q3 2025, and the closure of all U.S. full-price stores. Industry analyst Steve Hochman described the move as using 'public seed money' and a 'wait-and-see' story.
Yahoo FinanceAllbirds Rebrands to Smartbird, Hires New CEO, Stock Surges
Allbirds, the sustainable shoemaker, has rebranded again to Smartbird and appointed Nadia Carlsten as its new CEO, sending shares up 39%. The company had previously changed its name to NewBird AI in April and announced a pivot from making shoes to AI compute infrastructure and hardware. Carlsten, formerly head of Amazon Web Services' quantum computing center and CEO of AI infrastructure firm DCAI, replaces Joe Vernachio. Allbirds sold its footwear assets to American Exchange Group for $39 million in March and closed its US full-priced stores in February. The company is among several firms pivoting to AI to capitalize on the tech boom sparked by ChatGPT. Allbirds shares have fallen nearly 99% from a November 2021 high of $577.80 due to competition and slowing trends.
US Top News and AnalysisAllbirds stock surges after announcing new CEO and name change to Smartbird
Allbirds, the San Francisco-based eco-friendly shoe company, announced it will change its name to Smartbird and appoint Nadia Carlsten as its new CEO, marking a pivot from footwear to an AI infrastructure startup. Carlsten, formerly CEO of AI company DCAI, forged a partnership with Nvidia to launch an AI supercomputer. The company sold its shoe business and physical assets for $39 million in April to American Exchange Group. Allbirds shares skyrocketed over 40% to $5.68 following the announcement. The company, once valued at $4 billion at its 2021 IPO, had struggled with declining sales and a net loss of $101 million in 2022. Lily Yan Hughes was named board chair. The move represents the second name change since April, following a previous rebranding to Newbird.
Yahoo FinanceAllbirds Stock Surges as Sneaker Firm Completes AI Pivot, Rebrands to Smartbird
Allbirds, the San Francisco-based sneaker company known for wool runners and sustainability branding, has completed the sale of its footwear business and rebranded as Smartbird, an artificial intelligence infrastructure firm. The company, trading under ticker BIRD on Nasdaq, appointed Nadia Carlsten, a veteran from DCAI, SandboxAQ, and Amazon Web Services, as its new CEO. Investors reacted positively, with shares rising 52% to $5.99 on the announcement, though the stock remains down from a high of $24.31 in April. Smartbird expanded its convertible financing facility from $50 million to $100 million to build managed AI computing clusters for enterprise customers. The company is in active talks with prospective clients and designing its first cluster deployments, positioning itself to capitalize on the growing demand for enterprise-grade AI infrastructure.
Yahoo FinanceAllbirds Stock Surges as Sneaker Firm Completes AI Pivot, Rebrands to Smartbird
Allbirds, the San Francisco-based sneaker company known for wool runners and sustainability branding, has completed its transformation into an artificial intelligence infrastructure firm under the new name Smartbird. The company sold its shoe and apparel business and appointed Nadia Carlsten, a veteran from DCAI, SandboxAQ, and Amazon Web Services, as CEO. Investors reacted positively, with BIRD shares rising 52% to $5.99 on the day, though the stock remains down from an April peak of $24.31. Smartbird expanded its convertible financing facility from $50 million to $100 million to build managed AI computing clusters for enterprise customers. The company is in active talks with prospective customers and designing its first cluster deployments, aiming to capitalize on the growing demand for enterprise-grade AI infrastructure.
Yahoo FinanceAllbirds stock surges over 50% after company rebrands to Smartbird, appoints AWS exec as CEO
Allbirds (BIRD) stock surged over 50% on June 17, 2026, after the company announced a rebranding to Smartbird and appointed former Amazon Web Services executive Nadia Carlsten as CEO. The move continues the company's pivot from a sustainable sneaker business to an artificial intelligence infrastructure company. Carlsten, previously head of Product for AWS Center for Quantum Computing and CEO of DCAI and SandboxAQ, will also join the board. The company had previously surprised Wall Street in April with a 600% stock surge after announcing its AI pivot, focusing on providing high-performance AI chips and data center space to underserved enterprise customers. JPMorgan analysts noted AI capital expenditures are expected to reach $5.5 trillion by 2030. The stock remains up 30% year to date.
Yahoo FinanceAllbirds stock surges over 30% after company rebrands to Smartbird, appoints AWS exec as CEO
Allbirds (BIRD) stock surged over 30% on Wednesday after the company announced a rebranding to Smartbird and appointed former Amazon Web Services executive Nadia Carlsten as its new CEO. Carlsten, who previously led product for AWS Center for Quantum Computing and served as CEO of AI infrastructure companies DCAI and SandboxAQ, also joined the board. The move continues Allbirds' pivot from a sustainable sneaker business to an artificial intelligence company, first announced in April, which initially sent the stock up 600%. The company aims to fill a gap in the AI market by providing high-performance AI chips and data center space to customers not served by hyperscalers. JPMorgan analysts noted expectations for $5.5 trillion in AI capital expenditures through 2030. The stock remains up 30% year to date.
Yahoo FinanceAllbirds Renames to Smartbird, Stock Surges Again After AI Pivot
Former sneaker company Allbirds officially changed its name to Smartbird on June 17, 2026, and appointed Nadia Carlsten as its new CEO, continuing its hard pivot into becoming an AI infrastructure provider. The stock surged 49% to $5.90 in morning trading, following an earlier 800% spike in April that later crashed. The company also doubled its convertible financing to $100 million to support its AI strategy. Allbirds, once valued at $4 billion after its 2021 IPO, sold its footwear business in April to focus on AI compute infrastructure.
Forbes - BusinessAllbirds rebrands to Smartbird, appoints new CEO, stock surges on AI pivot
Allbirds, the shoemaker-turned-AI infrastructure firm, rebranded to Smartbird on Wednesday and appointed Nadia Carlsten as its new CEO, replacing Joe Vernachio. Carlsten previously led the Danish Center for AI Innovation, an Nvidia-partnered firm. The company had already surprised investors in April by pivoting from shoes to AI compute infrastructure, rebranding to NewBird AI, and selling its footwear assets for $39 million. Shares of BIRD soared 34% on the news. Allbirds joins a trend of companies pivoting to AI to capitalize on the tech boom, following similar moves by Myseum and CoreWeave.
US Top News and AnalysisAllbirds rebrands as Smartbird in AI pivot, hires former AWS executive as CEO; shares soar
Footwear company Allbirds has rebranded as Smartbird, completing a pivot to an AI infrastructure firm. The company appointed former Amazon Web Services executive Nadia Carlsten as CEO, sending shares up more than 30%. Smartbird provides AI infrastructure as a managed service, saving clients upfront equipment costs. The company is in active discussions with potential customers and designing its first cluster deployments. Carlsten brings experience from DCAI, Alphabet spinoff SandboxAQ, and AWS, and has advised the World Economic Forum. Smartbird expanded its convertible financing agreement to $100 million from $50 million, which it will use to acquire graphics processors. Allbirds previously shut most of its brick-and-mortar stores and sold its brand and footwear assets to American Exchange Group for $39 million in March.
Yahoo FinanceAllbirds rebrands as Smartbird in AI pivot, hires former AWS executive as CEO
Allbirds, the former footwear maker, has rebranded as Smartbird and appointed former Amazon Web Services executive Nadia Carlsten as president and CEO, cementing its pivot to an AI infrastructure firm. The company announced in April it would shift focus to cloud computing and AI services, leading to a more than five-fold surge in its shares. Carlsten brings experience from DCAI, Alphabet spinoff SandboxAQ, and AWS, and has advised the World Economic Forum. She replaces Joe Vernachio, while Annie Mitchell remains CFO and Lily Yan Hughes becomes board chair. Smartbird provides AI infrastructure as a managed service to save upfront equipment costs, is in active discussions with potential customers, and is designing its first cluster deployments. The company expanded its convertible financing agreement to $100 million from $50 million, previously indicating it would use proceeds to acquire graphics processors. Allbirds shut most of its stores and sold its brand and footwear assets to American Exchange Group for $39 million in March.
Yahoo FinanceAllbirds Renames to Smartbird, Appoints New CEO for AI Pivot
Allbirds, the San Francisco-based footwear company, announced it is changing its name to Smartbird and appointing Nadia Carlsten as its new CEO and board member, effective immediately. Carlsten succeeds Joe Vernachio as the company pivots from a shoe manufacturer to an artificial intelligence-focused firm. The move marks a significant strategic shift for the company, which has been known for its sustainable wool sneakers. The announcement was made on June 18, 2026, and was reported by Yahoo Finance via The Wall Street Journal.
Yahoo FinanceAllbirds Pivots to AI Infrastructure, Renames to Smartbird with New CEO
Allbirds, once a $4 billion Silicon Valley sneaker brand, has completely reinvented itself. After selling its footwear business and shedding most of its workforce, the company has changed its legal name to Smartbird and appointed Nadia Carlsten as CEO. Carlsten, previously CEO of the Danish Centre for AI Innovation and an AWS veteran, is leading the company into AI infrastructure, targeting mid-market enterprises and sovereign AI projects. The pivot, announced in April 2025, briefly sent the stock soaring 800%. Carlsten says she has never worn Allbirds shoes and believes that soon people won't remember the shoes. She plans to build the company from scratch while leveraging its public company status for capital and acquisitions. The move is seen as one of the most dramatic pivots of the AI boom.
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