The wool sneaker brand has completed its pivot to AI infrastructure, hiring a new CEO and doubling its financing to $100 million. It has no customers or data centres yet.

Allbirds drops shoes to become Smartbird, an AI infrastructure startup. CEO Nadia Carlsten, fresh off building an NVIDIA-powered supercomputer, targets the mid-market.

The former sneaker company also said it hired a new CEO in its continued hard pivot into becoming an AI infrastructure provider.