Allbirds makes unexpected pivot from renewable sneakers to AI
In California, a pioneer in using renewable materials in sneakers has unexpectedly announced a major pivot to artificial intelligence. Allbirds, a Nasdaq-listed company with A-list fans such as Lindsey Lohan and Prince William, has announced a definitive agreement to sell the Allbirds brand and footwear assets to American Exchange Group for $50 million.
Allbirds, which expects to eventually change its name to NewBird AI, will transition to a fully integrated GPU-as-a-Service and AI-native cloud solutions provider.
“The rise of AI development and adoption has created unprecedented structural demand for specialized, high-performance compute that the market is struggling to meet,” Allbirds said in a press statement. “Global enterprise spending on AI services and data center investment are on the rise. At the same time, GPU procurement lead times are increasing for high-end hardware, North American data center vacancy rates have reached historic lows, and market-wide compute capacity coming online through mid-2026 is already fully committed. The result is a market where enterprises, AI developers, and research organizations are unable to secure the compute resources they need to build, train and run AI at scale… NewBird AI is being built to help close that gap.”
Category: Chemicals & Materials
