Allbirds, once valued at $4 billion as a popular sneaker brand, is pivoting entirely to artificial intelligence after selling its core business for $39 million. The New York Times reports they are rebranding as NewBird AI, and the company plans to invest in AI infrastructure, including GPUs, to support growing demand for computing power.
The move marks a dramatic shift after years of financial struggles, though experts question whether the relatively small investment will be enough to compete in the capital-intensive AI industry.