Allbirds Became 'NewBird AI' and Popped 700%. The Bubble Just Rang a Bell.
Two weeks ago, Allbirds was a corpse. On Wednesday, it was an “AI company” — up 582% intraday, peaks near 700%, $127 million in market cap added in a single session. Nothing about the business changed. No GPUs. No customers. No data center. No team. Just a rename: NewBird AI, a $50 million convertible note, and a press release with the magic phrase “low-latency AI compute hardware.” If 2026 needed a tombstone for market rationality, this is it. ...