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After selling its business for $39 million last month, the company said it planned to buy powerful computer chips and rebrand itself NewBird AI.
Sneaker brand Allbirds to shift focus to AI compute infrastructure, as acquirer American Exchange Group will still sell Allbirds-branded product.
The wool shoe company made a surprising announcement about its future this week.
Allbirds is ditching wool sneakers for AI servers, rebranding as NewBird AI after locking in a $50M convertible financing facility.
Allbirds became a Silicon Valley favorite when it launched in 2021, known best for its eco-friendly wool sneakers. The company just sold for a fraction of what it was once worth.
The company tried to sell sustainable shoes, but couldn't stop losing money. So the publicly-held firm is trying its hand at AI instead.
After years of losses and a 99 percent stock collapse, the struggling shoemaker is betting on AI infrastructure.
The shoe company once beloved by VC founders and tech bros is scrapping sneakers altogether.
The company announced a new name to reflect its AI aspirations, too.
Well that's what you'd call a pivot. Allbirds, the once buzzy Silicon Valley shoe brand, is not going to make shoes anymore (though the brand may live on?), and instead it's going...
Allbirds had a hit a decade ago with its Wool Runner shoes, but after a $4 billion IPO in 2021, the business never turned a profit, and sales dropped nearly 50 percent between 2022...
With slowing sales and no path forward, Allbirds was left with just IP assets that became fodder for brand management firms such as American Exchange.
Allbirds ditches shoes for AI, sending shares soaring 800% in a wild pivot.
After agreeing to sell all its assets last month for less than 1% of its previous $4 billion valuation, the shoe company Allbirds announced Wednesday that it would “pivot its busin...
Once a $4 billion apparel juggernaut, Allbirds will rebrand as NewBird AI, a “GPU-as-a-Service” company. Hey, if you can't beat ’em, join ’em.
The DTC footwear brand may have overestimated its customers’ appreciation for sustainability, and underappreciated their desire for fashion.
The sneaker maker is selling its footwear assets and rebranding as "NewBird AI," betting on booming demand for AI computing power.
Say hello to Newbird AI, a radical experiment in buying GPUs and praying that profits follow.
By Allison Morrow, CNN New York (CNN) — Shares of Allbirds — the 2010s pioneer of trendy sneakers and eco-conscious Millennial retail marketing — took flight in an almost comical f...
By Allison Morrow, CNN New York (CNN) — Shares of Allbirds — the 2010s pioneer of trendy sneakers and eco-conscious Millennial retail marketing — took flight in an almost comical f...
The shoe brand that was once a favorite of the Silicon Valley tech scene is moving away from footwear and onto what its wearers have been obsessing over the most: AI. Allbirds...
Investors' response to the former shoe company's pivot may say something important about the outlook for neocloud companies.
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