""The rise of AI development and adoption has created unprecedented structural demand for specialized, high-performance compute that the market is struggling to meet.""
""NewBird AI is being built to help close that gap.""
""After agreeing to sell all its assets last month for less than 1% of its previous $4 billion valuation, Allbirds announced it would pivot its business to artificial intelligence.""
""The company will also have a new name: NewBird AI, and will invest $50 million to buy powerful computer chips to support its new direction.""
Allbirds, once valued at $4 billion, sold its assets for $39 million and plans to rebrand as NewBird AI. The company will invest $50 million in AI infrastructure, specifically in powerful GPUs to meet the growing demand for high-performance computing. The shift comes as the AI market faces a shortage of resources for development. Following the announcement, Allbirds' stock surged nearly 600%. The pivot reflects a broader trend of companies adapting to capitalize on the booming AI industry.
Read at Boston.com
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