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Allbirds stock surges over 50% after company rebrands to Smartbird, appoints AWS exec as CEO

Allbirds has renamed itself Smartbird to complete its transition from footwear to an AI infrastructure firm. Former Amazon Web Services executive Nadia Carlsten takes over as president and CEO. The company is currently negotiating with potential AI infrastructure customers.

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What changed

The update adds details on the new leadership team, Carlsten's professional background, and expanded convertible financing.

Live updates

  1. Allbirds Rebrands as Smartbird and Appoints Nadia Carlsten as CEO

    Allbirds has renamed itself Smartbird to complete its transition from footwear to an AI infrastructure firm. Former Amazon Web Services executive Nadia Carlsten takes over as president and CEO. The company is currently negotiating with potential AI infrastructure customers.

    What's confirmed:

    • Allbirds changed its name to Smartbird.
    • Nadia Carlsten, a former Amazon Web Services executive, is the new president and CEO.
    • The company is shifting its focus to cloud computing capacity and AI services.
    • Lily Yan Hughes is the new board chair.
    • Annie Mitchell remains as CFO.

    Still unconfirmed:

    • Smartbird expanded its convertible financing to $100 million.
    • Allbirds stock jumped 45% following the rebrand.
    • The company is in active discussions with potential AI infrastructure customers.
    • Joe Vernachio is resigning.
    confidence 90%

  2. Allbirds Rebrands as Smartbird to Focus on AI Infrastructure

    Allbirds has transitioned into Smartbird Inc., a San Francisco-based company providing AI infrastructure as a managed service. The company sold its footwear assets and appointed former AWS executive Nadia Carlsten as CEO. Stock prices surged following the announcement.

    What's confirmed:

    • Allbirds rebranded as Smartbird Inc. and shifted its focus to AI infrastructure.
    • Nadia Carlsten, a former AWS executive, is the new CEO.
    • The company sold its legacy footwear brand and assets.
    • Smartbird is based in San Francisco.

    Still unconfirmed:

    • Smartbird dropped its public-benefit status.
    confidence 90%

  3. Allbirds completes Smartbird rebrand with $100M AI financing

    Allbirds has officially rebranded as Smartbird and exited the footwear business to provide AI infrastructure. Nadia Carlsten, a former AWS executive, is the new CEO. The stock rose between 50% and 52% following the announcement.

    What's confirmed:

    • Allbirds rebranded as Smartbird.
    • Nadia Carlsten, a former AWS executive, was appointed CEO.
    • The company shifted from footwear to AI infrastructure.
    • Smartbird has a $100M AI infrastructure financing plan.
    • The company doubled its convertible facility to $100M.
    • Shares rose by at least 50%.

    Still unconfirmed:

    • Smartbird currently has no employees or customers.
    confidence 95%

  4. Allbirds rebrands to Smartbird and pivots to AI infrastructure

    Allbirds has rebranded as Smartbird and appointed Nadia Carlsten, a former AWS executive, as CEO. The company is exiting the footwear and apparel business to provide AI infrastructure as a managed service. Shares surged 52% following the announcement and an increase in financing.

    What's confirmed:

    • Allbirds rebranded to Smartbird and appointed former AWS executive Nadia Carlsten as CEO.
    • The company is pivoting to provide AI infrastructure as a managed service.
    • Shares experienced a 52% surge following the rebranding and financing news.
    • Smartbird is focusing on AI infrastructure and cloud computing.

    Still unconfirmed:

    • Allbirds became NewBird AI in April.
    • The company raised its convertible financing facility from $50 million to $100 million.
    • Smartbird is in discussions with potential customers and planning its first deployments.
    confidence 90%

  5. Allbirds Rebrands as Smartbird and Pivots to AI Infrastructure

    Allbirds has officially rebranded to Smartbird and appointed former AWS executive Nadia Carlsten as CEO. The company is exiting the footwear industry to provide AI infrastructure as a managed service. Shares surged over 50% to $5.92 following the announcement.

    What's confirmed:

    • Allbirds rebranded to Smartbird.
    • Nadia Carlsten, a former AWS executive, was appointed CEO.
    • The company is pivoting from footwear to AI infrastructure.
    • Smartbird shares rose over 50% to $5.92.
    • The company sold its footwear IP.

    Still unconfirmed:

    • The company is targeting high-performance AI chips and data center solutions.
    • Smartbird is currently in discussions with potential customers for its first deployments.
    confidence 95%