Allbirds announced plans to pivot from footwear to AI compute infrastructure and rename itself NewBird AI, sending BIRD stock up more than 600% from under $3 a share. The company said it has signed a definitive agreement with an institutional investor for a $50 million convertible financing facility, expected to close in the second quarter of 2026. The funds are contingent on stockholder approval at a special meeting anticipated for May 18, 2026. According to the company, NewBird AI intends to purchase ...