Allbirds
Allbirds business and news from across the web.
Latest coverage
Engadget Podcast: Allbirds goes from shoes to AI
This podcast episode discusses the surprising shift of shoe company Allbirds into the artificial intelligence sector and its implications for the AI economy. Additional topics include the Artemis II moon mission, Meta's facial recognition technology, and teens' perceptions of social media's influence.
Shoe retailer AllBirds (BIRD) sees 700 percent stock surge following pivot to AI infrastructure
Allbirds, a shoe retailer, experienced a 700 percent surge in its stock price after announcing a strategic pivot from selling sustainable footwear to providing AI compute infrastructure. The company's stock rose from under $3 to over $17 following this announcement.
An American shoe company has taken a $50 million investment to pivot to, of all things, AI infrastructure
Allbirds, a shoe company, has announced a significant pivot to AI infrastructure, securing a $50 million investment to become a GPU-as-a-Service and AI-native cloud solutions provider. The company plans to rebrand as "NewBird AI" and will lease high-performance GPUs to customers requiring dedicated AI compute capacity. This strategic shift has already led to a substantial increase in its stock price.
Shoe company pivots to AI compute in sign of a totally normal and healthy economy
The shoe company Allbirds is undergoing a significant business pivot, aiming to transition into an AI compute infrastructure provider and GPU-as-a-Service company under the proposed new name NewBird AI. This strategic shift, pending shareholder approval, involves raising $50 million for acquiring graphics processing units and related high-performance computing assets. The announcement has led to a substantial increase in the company's stock value, despite a lack of prior experience in the AI sector.
Now A Shoe Company Is Buying Up GPUs And Pivoting To AI
Struggling footwear company Allbirds is pivoting its business to focus on AI and GPUs, rebranding as NewBird AI. The company has sold its footwear assets to American Exchange Group and secured $50 million in financing to purchase GPU assets for AI compute infrastructure. This move comes amid a surge in demand for AI services and a significant increase in Allbirds' stock value.
