•1 min read•from TechCrunch
After sale of its shoe business, Allbirds pivots to AI
Our take
Allbirds, known for its sustainable footwear, is taking a bold step into the future by pivoting to AI technology. After selling its shoe business, the company is rebranding as NewBird AI, signaling a commitment to innovative data solutions. With a recent $50 million convertible financing facility secured, Allbirds is poised to transform its operations, moving away from traditional products to harness the power of artificial intelligence. This shift reflects a forward-thinking approach, focusing on accessibility and empowerment in a rapidly evolving digital landscape.
Allbirds is ditching wool sneakers for AI servers, rebranding as NewBird AI after locking in a $50M convertible financing facility.
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