Shares of Allbirds, Inc. (BIRD) soared nearly 450% on Wednesday morning after announcing that it secured a $50 million convertible financing facility to pivot into AI compute infrastructure and plans to rebrand as "NewBird AI."
The stock is currently trading at $13.62, up $11.13 or 446.99%, on the Nasdaq. It opened at $6.84 after closing the previous session at $2.49. The stock has traded between $2.15 and $13.88 over the past 52 weeks.
The company is also selling its core footwear business to American Exchange Group. Proceeds will fund GPU infrastructure as it targets becoming a GPU-as-a-Service provider.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.