AllBirds Burns Their Shoes to Power Data Centers

AllBirds maker of shitty lifestyle shoes that looked like they were designed by AI does the inevitable Silicon Valley thing and pivots to AI. Oliver Haill has the story for Proactive:

The company said the deal will fund plans to “pivot its business to AI compute infrastructure” and become a “fully integrated GPU-as-a-Service and AI-native cloud solutions provider”.

So, back in 2021 (right after COVID when the world had lost its taste for awhile) they IPO’d and were shortly after valued at $4.1 billion. Then a couple of weeks ago sold their assets and intellectual property for $39 million. Now comes the pivot along with new investment and the inevitable stock surge. This feels like a money laundering scheme, hahahaha… I have no idea how any of this works but I recommend you looking up their stock symbol. Be sure to zoom out to five years and check what today’s news did to their stock in the grand scheme of things.