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AI Business & IndustryThe Verge AIPublished: Apr 16, 2026, 04:00 JST

Struggling shoe company Allbirds pivots to AI infrastructure business after $4 billion IPO failure, rebranding as NewBird AI with $50 million in new funding.

Struggling shoe company Allbirds pivots to AI infrastructure business after $4 billion IPO failure, rebranding as NewBird AI with $50 million in new funding.

Allbirds, once successful with its Wool Runner shoes, failed to turn a profit after its 2021 IPO and saw sales drop nearly 50% between 2022 and 2025

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