Allbirds Renames Itself Smartbird, Names Nadia Carlsten CEO as Shares Jump 34%
Updated
Updated · CNBC · Jun 17
Allbirds Renames Itself Smartbird, Names Nadia Carlsten CEO as Shares Jump 34%
1 articles · Updated · CNBC · Jun 17
Summary
Shares of BIRD surged 34% on Wednesday after Allbirds said it would rename itself Smartbird and replace CEO Joe Vernachio with Nadia Carlsten, who also joins the board.
Carlsten comes from the Danish Center for AI Innovation, an Nvidia-partnered AI infrastructure group that operates the Gefion supercomputer, underscoring Allbirds' push deeper into AI compute and hardware.
The move extends an April pivot that stunned investors, when the former shoemaker rebranded to NewBird AI and its market value jumped sevenfold.
$39 million from the March sale of Allbirds' footwear assets to American Exchange Group cleared the way for the shift, as more public companies chase the AI boom that followed ChatGPT's 2022 debut.