"Allbirds will transform itself into a business focused on leasing GPUs, the powerful graphics chips underpinning the AI boom that are in short supply and high demand."
"The company plans to use the funds to buy high-end hardware which it will then loan out to customers hurting for computing power in long-term leases."
"Allbirds says it will soon rebrand itself as 'NewBird AI,' a venture being funded by $50 million in convertible debt from an undisclosed investor."
"This transformation aims to create a GPU-as-a-Service platform, moving away from its original retail focus on sustainable footwear."
Allbirds, known for its sustainable shoes, is shifting its business model to focus on leasing GPUs, essential for AI technology. The company will rebrand as NewBird AI, supported by $50 million in funding. This transformation aims to create a GPU-as-a-Service platform, moving away from its original retail focus. Allbirds plans to purchase high-end hardware to lease to customers needing computing power. The shift marks a significant departure from its roots in eco-friendly footwear to a tech-driven future.
Read at Fast Company
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