David's Bridal is planning to spin off its artificial intelligence platform, Pearl, into a stand-alone publicly traded company targeting a valuation of roughly $350 million, CNBC learned exclusively. The company expects the deal to close in the first half of 2027. David's Bridal filed a nonbinding letter of intent on Thursday to separate out Pearl. The AI-centered business would own David's Bridal's intellectual property and look to build on its growing AI model, while the original company would try to strengthen its physical retail business.
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