Allbirds Is Reborn as Smartbird

Investors are suddenly flocking to a bird they thought they knew. Two months after shocking Wall Street by announcing a turn from sustainable sneakers to AI infrastructure, Allbirds has emerged as Smartbird, with a new CEO at the helm. Nadia Carlsten replaces Joe Vernachio at the top; Reuters reports she previously led Denmark's Center for AI Innovation and worked at Alphabet spinoff SandboxAQ and Amazon Web Services.

Per Reuters, the rebranded Smartbird "is in active discussions with potential customers and is designing its first cluster deployments." Shares surged Wednesday on the news, reports CNBC, and are up 43% as of this writing at $5.64.