Exhibit
Allbirds
A pair of Allbirds shoes
Allbirds started as the friendly shoe company: merino wool, eucalyptus fiber, sugarcane foam, and sneakers that made tech workers feel like they had optimized socks.
After the direct-to-consumer magic wore off, the company agreed to sell its brand and footwear assets for about $39 million. Two weeks later, the remaining public company said it would pivot to AI compute infrastructure and rename itself NewBird AI.
It is not obvious how much shoe expertise transfers to GPU infrastructure, especially when the financing facility is enough to buy a couple of GPUs and wish everyone good luck. But maybe!