Allbirds (BIRD) said Wednesday it has executed a definitive agreement with an institutional investor for a $50 million convertible financing facility that will enable the company to pivot its business to artificial intelligence compute infrastructure.

Shares catapulted more than 625% as intraday trading volume surged to over 232.1 million from a daily average of about 117,000.

Canadian Investment Regulatory Organization Trade announced around midday that trading resumed in the shares of Xanadu Quantum Technologies, which is listed on the Nasdaq under ticker symbol XNDU, following a temporary suspension to ensure a fair and orderly market.

US-listed shares were up more than 67% as intraday trading volume advanced to over 5.2 million from a daily average of roughly 971,000.

Energous (WATT), doing business as Energous Wireless Power Solutions, reported on Wednesday "continued commercial momentum" across its enterprise customer base, including expanding deployments with its two Fortune 10 customers, and a growing proof-of-concept pipeline spanning multiple industries and geographies.

Shares rose nearly 35%, with intraday trading volume jumping to more than 1.6 million from a daily average of about 391,000.

Price: 18.07, Change: +15.58, Percent Change: +625.50