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Bubble watch: Fashion brand Allbirds pivots hard to become AI services company

If you know the name Allbirds, it’s probably for their longstanding stated commitment to “sustainable shoes and apparel.” Going forward, though, the corporate entity wants to be known for its “long-term vision to become a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider.” In a news release Wednesday morning, Allbirds announced that it has

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Snap Inc blames AI as it lays off 1,000 workers

Cuts by Snapchat’s parent company come in response to a declining stock price and pressure from an activist investorSnapchat’s parent company plans to lay off 16% of its employees, around 1,000 people, citing “rapid advancements in artificial intelligence”, the social media company told staff on Wednesday in an internal memo. The staff reduction is part

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