Allbirds is making a sharp pivot from its sustainable footwear roots to the tech world by rebranding as NewBird AI. After selling its shoe business to American Exchange Group for $39 million, the company is now focusing on offering GPU-as-a-service cloud computing solutions. They have also raised $50 million through convertible financing. Following a remarkable 600% spike in its stock price, which then dropped by around a third, NewBird AI plans to lease GPUs to companies developing AI applications.
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