Sneaker manufacturer $Allbirds (BIRD.US)$ surged over 238% before triggering a trading halt, closing at $8.42. In terms of developments, Allbirds announced it secured a $50 million convertible financing facility and plans to pivot its operations toward AI computing infrastructure. The company disclosed that it has entered into a definitive agreement with an institutional investor for the financing facility, with the transaction expected to be completed in the second quarter of 2026. Additionally, the firm intends to transform its business into a provider of GPU-as-a-service and AI-native cloud solutions, and will change its name to "NewBird AI."
Allbirds surged over 238% to trigger a trading halt, with plans to transform its business into AI computing infrastructure.
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