"Allbirds has never offered AI products or services, has zero expertise or history in the field, and has no GPU procurement teams or data center experience. This surprising pivot comes as the company seeks to capitalize on the current AI boom, which has led to significant stock value increases for companies merely mentioning AI."
"The company announced that it had secured $50 million in financing to turn itself into a tech company with a 'long-term vision to become a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider.'"
Allbirds announced a transformation into an AI computing infrastructure company, changing its name to NewBirdAI and securing $50 million in financing. This shift comes after selling itself to American Exchange Group for $39 million. The company has no history in AI or GPU services and is distancing itself from its environmental advocacy. The move reflects a broader trend where companies are capitalizing on the AI boom to boost stock values, reminiscent of past speculative surges in cryptocurrency.
Read at Fortune
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