Allbirds, Inc. Executes $50M Convertible Financing Facility Agreement; Announces Expansion into AI Compute Infrastructure

An institutional investor has completed a $50 million convertible financing facility with Allbirds, a enterprise software business in California. Allbirds is pivoting from its footwear brand to AI compute infrastructure, targeting GPU-as-a-Service (GPUaaS) and AI-native cloud solutions. The company’s technology M&A plan includes changing its name to NewBird AI as it builds an AI compute platform in San Francisco, CA. The other acquisition financing is expected to close in Q2 2026 and is subject to stockholder approval, including a May 18, 2026 special meeting for conversion terms.