Traders work June 10 on the floor of the New York Stock Exchange on Wall Street in New York City. Stocks of the company once known as Allbirds jumped Wednesday as it rebranded as Smartbird and named a new CEO. Photo by John Angelillo/UPI | License Photo
June 17 (UPI) -- Former shoe company Allbirds officially became Smartbird on Wednesday, making another move in its pivot toward a new life as an artificial intelligence company.
The company, once known for its sustainable shoes made from natural materials, surprised many when it announced its move toward AI about two months ago. It originally rebranded as NewBird AI as it revealed a $50 million deal with an unnamed investor, with which it will obtain "high-performance GPU assets."
The company also completed the sale of its footwear brand and assets to American Exchange Group on Wednesday and named a new president and chief operating officer, Nadia Carlsten, it said in a press release.
The release called Carlsten "a visionary and builder" and said she formerly served as CEO of artificial intelligence company DCAI. She has also led Amazon's Web Services quantum computing center and worked at the U.S. Department of Homeland Security, CNBC reported.
