Allbirds stock is already falling after the AI pivot. History suggests investors should proceed with caution
By Michael Grothaus
Published on April 16, 2026.
Allbirds Inc. (Nasdaq: BIRD) has announced that it will transition from making shoes to becoming an AI compute infrastructure provider. The move could cause a significant decline in the stock price, with shares falling more than 30% in premarket trading. The company's new business model involves buying GPUs and renting them out to AI developers. Allbirds will be renamed NewBird AI and continue to be sold under its new owner, American Exchange Group (AE).
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