The post Allbirds Stock Rallies 700% On AI Pivot, But Mirrors Failed Crypto Treasury Plans appeared on BitcoinEthereumNews.com.

Allbirds (BIRD) stock gained over 700% on April 15 after the company announced it would ditch footwear entirely and pivot to AI compute infrastructure. The playbook may look familiar. Less than a year ago, a wave of struggling pharma companies pulled the same move with crypto. Most of those stocks have since collapsed. From Dead Shoe Brand to 700% Market Frenzy in a Single Day Allbirds, once valued at $4 billion after its 2021 IPO, sold its shoe brand to American Exchange Group for just $39 million in March. The remaining shell secured a $50 million convertible financing facility and plans to rebrand as NewBird AI, leasing GPUs to developers facing compute shortages. “NewBird AI expects to use initial capital from the Facility to acquire high-performance GPU assets, which will be deployed to serve customers requiring dedicated access to AI compute capacity,” read an excerpt in the press release. Following the news, Allbirds’ stock, BIRD, rallied by over 700%, with prospects for more gains as rising demand continues to clear each local top. Allbirds (BIRD) Stock Performance. Source: TradingView It is imperative to note, however, that the company has no track record in hardware, data centers, or cloud services. Both deals still require stockholder approval at a May 18 special meeting. Against this backdrop, analysts noted the disconnect between the stock move and the underlying business. “Feels like the market is rewarding what you could be not what you are … Nothing changed operationally overnight. Just the story. Shoes → dead. AI → alive,” analyst Kyle Doops remarked. Crypto Tried This First In 2025, at least four medical firms abandoned their core businesses to become crypto treasury companies. Helius Medical rebranded as Solana Company and raised $500 million for a SOL treasury. Kindly MD merged with Nakamoto Holdings to hold…

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Filed under: News - @ April 15, 2026 8:21 pm