Compute Infrastructure
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Allbirds Bets Big on AI, BIRD Stock Soars
Allbirds is pivoting from sustainable footwear to AI compute infrastructure, rebranding as NewBird AI. This strategic shift, aimed at capitalizing on the AI boom, has caused its stock to surge over 582%. The company plans to secure up to $50 million in new funding to acquire AI hardware and address market demand. This move follows recent asset sales and store closures for the struggling footwear brand.
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OpenAI Revises Spending Forecast, Aims for $600 Billion by 2030
OpenAI is revising its infrastructure expansion plans, now targeting $600 billion in compute spend by 2030, down from $1.4 trillion. This shift aligns capital expenditure with projected revenues of over $280 billion by 2030. The company is also nearing a $100+ billion funding round, with Nvidia potentially investing $30 billion. Despite increased competition, OpenAI’s ChatGPT boasts over 900 million weekly users, and its Codex assistant has over 1.5 million weekly users.
