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Allbirds shares soar 600% as it pivots from footwear to AI
- james-clef 6mo agoWhat a pivot. I was thinking their investors may have some questions, thinking they were getting into sneakers and then finding that position is actually an investment in AI. Not good if you were trying to diversify but the 600% gain probably softens that for now. Kind of reminds me of the dot com bubble stories though. 600% increase on what seems to be a plan at this time.
- svnt 6mo agoThey sold everything of value they had for $39 million to buy and rent out GPUs and now are somehow worth four times that. Anyone with $40 million worth of something and a shell company can do the same thing.
- junofan 6mo agoAnyone with a shell company listed on NASDAQ I guess. That part’s probably pretty important.
- spindump8930 6mo agoNot clear that they even have any GPUs yet: > Allbirds, which will be renamed “NewBird AI,” said it executed a $50 million deal with an unnamed institutional investor to acquire “high-performance GPU assets” to begin transitioning into a “fully integrated GPU-as-a-Service” Serious folks know it's not straightforward to suddenly get any number of GPUs these days, even at that level of money
- anonym00se1 6mo agoReminds me of this: https://i.imgur.com/CQr1WOM.png https://i.imgur.com/CQr1WOM.png
- ChrisArchitect 6mo ago[dupe] https://news.ycombinator.com/item?id=47778762 https://news.ycombinator.com/item?id=47778762
- beardyw 6mo agoEarlier today Jack made a dramatic pivot from cow to magic beans. Later we have an interview with his mother.
- FireBeyond 6mo agoThis saddens me. They were very comfortable apart from anything else, suited my wide feet. You could order in 1/4 sizes and could even order a different size for each foot, like a 9.25 on the L and 9.5 on the R.
- AuthAuth 6mo agoWhy would anyone want to invest in a shoe company turned GPU-as-a-Service company? This seems like the biggest grift ever.