Allbirds sold its shoe business for $39 million and is pivoting to AI cloud computing

In short: Allbirds is rebranding as NewBird AI and pivoting from sustainable footwear to GPU-as-a-service cloud computing after selling its shoe business to American Exchange Group for $39 million. The company secured $50 million in convertible financing, saw its stock surge 600% before falling back by a third, and plans to lease GPUs to AI […]

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