"Allbirds will focus its efforts on turning a $50 million cash infusion into high-performance GPU assets, eventually building out a fully integrated GPU-as-a-Service and AI-native cloud solutions provider."
"After years of financial losses, Allbirds sold its intellectual property to American Exchange Group for $39 million, marking a significant shift in its business strategy."
"Allbirds appears to be the first company that got its start with a minimalist sneaker made from responsibly sourced Merino wool to pivot to compute."
Allbirds announced a shift from its footwear business to AI compute infrastructure, rebranding as NewBird AI. The company faced financial struggles, leading to the sale of its intellectual property for $39 million. With a $50 million cash infusion, Allbirds aims to develop high-performance GPU assets and AI-native cloud solutions. The partnership with Pantone and the launch of the canvas cruiser collection precede this significant transformation, marking a notable change in the company's direction and focus on technology.
Read at WIRED
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