Just one day after Allbirds announced a full pivot to AI computing infrastructure, social media company Myseum (NASDAQ: MYSE) followed suit by declaring a name change to Myseum.AI. Its stock surged up to 200% in pre-market trading, with the latest gain settling around 181%. This phenomenon is seen as the latest signal of the fervent investment craze in artificial intelligence stocks, with the market closely watching the capital excitement triggered by traditional companies crossing over into AI.
Emulating Allbirds, Myseum is betting on privacy-focused AI. Unlike Allbirds' aggressive transformation, Myseum's AI strategy focuses more on a technological upgrade of its existing business. According to a company statement, Myseum will commit to developing a "privacy-first, agentic AI assistant" designed to help users manage personal media data such as photos, videos, and messages.
A core technical feature of the company's approach is "localization": the AI assistant learns and adapts to individual user habits and preferences directly on the user's device, with personal information remaining encrypted and never shared with traditional AI models. Myseum CEO Darin Myman stated, "Our new name identifies our core AI-based technology, which protects our multi-layered social media ecosystem."
Allbirds' Aggressive Pivot: From Shoes to Compute Power As the pioneer of this current "AI rebranding wave," Allbirds (Ticker: BIRD) announced an even more radical transformation plan on April 15. The company declared it would change its name to "NewBird AI" and shift entirely to AI computing infrastructure, focusing on acquiring high-performance GPUs and offering GPU-as-a-Service.
To support this pivot, Allbirds has signed a $50 million convertible financing agreement with an unnamed institutional investor. The company had previously sold most of its brand assets and intellectual property for $39 million in March and plans to seek shareholder approval for the "dissolution and liquidation of the company," fully exiting the footwear business.
This announcement triggered a frenzied market reaction—Allbirds' stock skyrocketed as much as 872% on Wednesday (April 15), ultimately closing up 582%. However, by Thursday (April 16), the stock had already retreated by 29.5%, highlighting the high volatility risks associated with such "concept-driven speculation."
Market Caution: Strategic Shift or Riding the Hype? Analysts are generally cautious about this wave of AI rebranding, drawing parallels to historical market bubbles. Kathleen Brooks, Research Director at XTB, noted, "When companies like Allbirds pivot to data centers and GPUs, it really does seem like the peak of the AI mania. It certainly shows the level of euphoria in the AI market, but perhaps they are a little late to the party—Allbirds is certainly not the early bird."
This scenario is reminiscent of the 2017 "blockchain rebranding潮." At that time, Long Island Iced Tea Corp. changed its name to Long Blockchain Corp., causing its stock price to surge immediately. However, after the hype faded, the company ultimately failed to successfully transform, and U.S. securities regulators filed an insider trading lawsuit against it. An analyst team at William Blair, led by Dylan Carden, was blunt in their assessment: "A $50 million investment is a drop in the bucket in the broader 'new cloud' market, where most players have capital expenditure budgets in the billions of dollars. With the footwear business being liquidated and the new cloud business facing significant uncertainty, there is simply no valuation basis here." The analyst team has discontinued coverage of Allbirds stock.
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