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Launch2w ago

Allbirds Shifts from Shoes to AI

Fox Business, ABC7 San Francisco

In brief

  • Allbirds will stop making shoes and focus on artificial intelligence.
  • The company sold its shoe brand for $39 million.
    • It will use $50 million to buy computers that help train AI models.
    • This matters because AI models need powerful computers to work.
  • Allbirds' stock rose 400 percent after the news.
  • The company will be called NewBird AI and offer AI services.
    • It will buy more computers to help customers use AI.
  • NewBird AI will look for ways to grow its business in the future.

Read full story at Fox Business, ABC7 San Francisco

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