Allbirds shares rise significantly after shift to AI
Allbirds plans to transition from footwear to technology infrastructure. The company aims to capitalize on the growing demand for AI computing power. (sources: bbc, nytimes, cbsnews, reuters)
Allbirds has announced a pivot from its sneaker business to focus on artificial intelligence. Following the sale of its footwear assets, the company will rebrand as NewBird AI.
- Allbirds is selling its shoe brand for $39 million.
- The company plans to invest in powerful computer chips.
- Allbirds will rebrand itself as NewBird AI.
Why it matters
The shift reflects a broader trend of companies adapting to the increasing demand for AI technologies.
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2 bills on this issue are moving right now — and the most active one is Power for the People Act of 2026.
S3682 · 119th Congress
Power for the People Act of 2026
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What S3682 actually does
This story is about Allbirds pivoting from footwear to AI and its shares soaring. This bill would create special rate classes and load queues so data centers pay for their own grid needs.
If passed, it would:
- Creates special electricity rate classes for data centers • Requires load queues so data centers cover their grid costs.
1 other bill moving on this issue
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This story is about Allbirds pivoting from footwear to AI and its shares soaring. This bill would require detailed reports on data centers' environmental impacts, covering air, water, and electricity consumption.
If passed, it would
- Mandates environmental impact reports for data centers • Requires reporting on air, water, and electricity use.