San Francisco-based Allbirds, formerly a popular maker of wool shoes that abruptly switched to providing AI services earlier this year, has changed its name to Smartbird and hired former Amazon Web Services executive Nadia Carlsten as chief executive officer, as it moves into the new field.
The move saw the company’s shares rise more than 40 percent.
In April, when Allbirds first announced its move, the firm’s shares skyrocketed, before losing most of its gains.
Allbirds formerly made wool shoes before switching to AI infrastructure. Image credit: Unsplash
Stock gains
