Allbirds had a moment. I’ll cop to buying a couple of pairs. Comfortable and sustainable, somewhat work appropriate. It was with great amusement that we read last week’s headlines that Allbird’s stock rocketed 600% in response to its pivot from sneakers to Artificial Intelligence (AI).

Allbirds IPO’d in 2021 with a market capitalization of $4 billion. Last month, Allbirds announced the sale of its shoe business to American Exchange Group for $39 million. At the start of last week, Allbirds (ticker: BIRD) traded with a market value of just over $22 million.

On April 15th the company announced that it had raised $50 million from an unnamed institutional investor to become a company named NewBird AI. New Bird AI expects to use the newly raised capital to convert its business to “AI compute infrastructure, with a long-term vision to become a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider”. BIRD flew and – after some calibration – closed the week with a market value of over $100 million.

In seemingly related news, the S&P 500 Index concurrently reached new highs.

ARCHIVE
Integrity, April 13, 2026
Liquidity, April 6, 2026
Democratizing Private Equity – Part II, March 23, 2026
Democratizing Private Equity – Part I, March 16, 2026
Watching the Lights Turn Red, March 9, 2026
Watching the Lights Turn Green, March 2, 2026
Las Cucarachas, February 9, 2026
Gold Math, February 2, 2026
Uncorrelated, January 26, 2026
A Contrarian Trade? January 20, 2026
Woe is Me, January 12, 2026
Investing for Impact, January 5, 2026
2025

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