Allbirds Changes Name to Smartbird, Appoints New CEO Nadia Carlsten

Allbirds announced on Wednesday it is changing its name to Smartbird and appointed Nadia Carlsten as CEO and board member, replacing current CEO Joe Vernachio. The appointment advances the company's AI infrastructure strategy following its April pivot from shoemaking to AI compute infrastructure. Carlsten previously served as CEO at the Danish Center for AI Innovation, an AI infrastructure company partnered with Nvidia and home to the Gefion supercomputer.

Nadia Carlsten Appointed CEO of Smartbird

The shoemaker-turned-AI infrastructure firm named Nadia Carlsten as CEO and board member on Wednesday. Carlsten replaces Joe Vernachio in the role. Prior to joining Smartbird, Carlsten served as CEO at the Danish Center for AI Innovation, which operates the Gefion supercomputer and maintains a partnership with Nvidia.

BIRD Stock Rises 34% Following Announcement

Shares of BIRD soared 34% on Wednesday following the name change and CEO appointment announcement. The stock surge follows earlier volatility after the company's April rebrand, when its market cap surged sevenfold.

Allbirds Rebranded to NewBird AI in April

Allbirds surprised investors in April with plans to shift from making shoes to AI compute infrastructure and hardware. At the time, the company rebranded to NewBird AI. The transformation represents a strategic pivot to capitalize on AI infrastructure demand.

Company Sold Footwear Assets for $39 Million

A month earlier, the company sold its footwear assets to the brand management company American Exchange Group for $39 million. The asset sale preceded the company's April rebrand to NewBird AI. In April, Allbirds also executed a $50 million convertible financing facility.

FAQ

What did Allbirds announce on Wednesday?

Allbirds announced on Wednesday it is changing its name to Smartbird and appointed Nadia Carlsten as CEO and board member, replacing Joe Vernachio.

Who is Nadia Carlsten?

Nadia Carlsten previously served as CEO at the Danish Center for AI Innovation, an AI infrastructure company partnered with Nvidia that operates the Gefion supercomputer.

How much did BIRD stock rise following the announcement?

Shares of BIRD soared 34% on Wednesday following the name change and CEO appointment announcement.