IF YOU DON'T SELL YOUR SHOES, WILL A.C. DO THE SAME THING WITH DAT

It's called Odaily Daily@OdailyChinaI'm not sure

Author Wenser@wenser2010I'm not sure

A few days ago, Allbirds, a once-fired Red Shoes, announced that they would sell their shoes and raise $50 million to convert them to the NewBird al. According to the news, their share price rose to 24.31 dollars at a time and has now fallen to 16.99 dollarsThe single-day increase is still at 582.33%I don't know。

CONSIDER, $50 MILLION IN THE AI CALCULUS CUP, WHICH IS NOW A MULTI-BILLION DOLLAR ORDER, BUT THIS MOVE REMINDS ME OF LAST YEAR'S HOT Q3 DAT STOCK PRICE BOOM。

WHEN NEWS OF A TRANSFORMATION TO DAT CAN MAKE THE TIME WHEN THE STOCK PRICE OF LISTED COMPANIES SOARS SEVERAL TIMES, WE'RE IN THE MIDDLE OF SOMETHING."THE LISTED COMPANY TURNED INTO AN AI SALESMANA new era. The reason is no more than the word “supply and demand”。

BEHIND THE NET-HOT TRACK: AI IS A BIG PROBLEM

Recently, hotspot events such as the Claude model de-mention and the tightening of the KYC policy have given rise to much discussion, while the reality behind the reaction is a structural gap in AI ' s calculations。

Gartner, American Market ResearchOne reportIT WAS NOTED THAT GLOBAL AI EXPENDITURE IN 2026 WOULD AMOUNT TO $2.52 TRILLION, AN INCREASE OF 44 PER CENT OVER THE SAME PERIOD; OF THIS, ONLY AI INFRASTRUCTURE (INCLUDING SERVERS, ACCELERATORS, STORAGE AND DATA CENTRE PLATFORMS) WAS EXPECTED TO CONSUME APPROXIMATELY $1.37 TRILLION, MORE THAN HALF OF TOTAL EXPENDITURE。

YesAI BIG HEADMicrosoft, Alphabet (the Google parent company), Amazon, Meta and Oracle planned infrastructure capital expenditures for 2026 totalling some $66 billion to $69 billion, about two times the figure in 2025; the vast majority of these funds will be spent on AI computing, data centres and networks. All cloud-makers indicated that their markets were in short supply。

CONSIDERING THAT THE GPU DATA CENTRE HAS A DELIVERY CYCLE OF APPROXIMATELY 36-52 WEEKS, THE SITUATION OF CALCULUS AND LIMITED DATA AVAILABILITY WILL LAST AT LEAST UNTIL 2026 Q3。

IT IS WORTH MENTIONING THAT THE CURRENT ARITHMETICAL STRUCTURAL GAP STEMS NOT ONLY FROM THE NEED FOR AI LARGE MODEL MANUFACTURERS TO TRAIN MODELS, BUT ALSO FROM THE RAPIDLY EXPANDING DAILY REASONING MODEL DEPLOYMENT NEEDS OF BILLIONS OF USERS WORLDWIDE. BUSINESSES AT THE END, TOGETHER WITH THE COMPUTING RESOURCE GAP AT THE END OF BUSINESS C, HAVE LED TO TODAY ' S ENERGY MARKETS THAT ARE OFTEN OUT OF DEMAND。IT IS NO WONDER THAT WONG IN-HOON, THE FOUNDER OF YOUNG WEIDA, SAID WITH CONFIDENCE AT THIS YEAR'S CES CONGRESS: "IN 2027, THE AI CHIP AND INFRASTRUCTURE MARKET WAS ON A SCALE OF $1 TRILLION."

IN KEEPING WITH THE TRANSITION OF MAJOR MINING COMPANIES TO AI AND THE PACE OF THE DATA CENTRES, DESPITE THE POWER GAP, AI IS COMPETING FOR KEY RESOURCES SUCH AS ELECTRICITY IN THE ENCRYPTED MONEY INDUSTRY。According to a recent publication by Stanford UniversityAI INDEX REPORT 2026THE CURRENT OVERALL ELECTRICITY DEMAND FOR THE AI SYSTEM IS CLOSE TO HALF THE SIZE OF A BITCOIN MINE AND CLOSE TO THE NATIONAL LEVEL IN SWITZERLAND OR AUSTRIA。

THERE IS NO DOUBT THAT “BUSINESS VERSUS AI” HAS BECOME A MANDATORY OPTION FOR MANY LISTED COMPANIES AT THIS TIME WHEN AI IS THE ONLY NARRATIVE THAT DRIVES AMERICA’S EQUITY AND GLOBAL TECHNOLOGY COMPANIES。

WHEN AI MATHEMATICAL BUSINESS BECOMES THE NEXT DAT MODE: AI NARRATIVE RUFUS TEST TIME

Allbirds led, perhaps, another era like last year’s boom of DAT。

THE REASON FOR THIS IS THAT THERE IS A LONG-STANDING OVERLAP BETWEEN THE ENCRYPTION MONEY INDUSTRY DAT TREASURY MODEL AND THE TRANSFORMATION OF LISTED COMPANIES AI, AND THERE HAVE BEEN MATURE CASES。

Last July - September, with the emergence of Bitmine, Sharplink and others, a large number of BTC DATs, ETH DAT, SOL DAT, BNB DATs, and a variety of Yamaya coins, DAT listings became the “star stock” of the time – a number of the stock labels have in just a few days performed twice or even a dozen times the miracle of capital markets。

ON THE OTHER HAND, THE TRANSITION CASES ON THE AI TRACK ARE NOT TOO NUMEROUS。

Last year, Aethir (ATH) was an Axe Company(Odaily Daily)AND THEN THERE WAS AN AI-CUTTING REVOLUTION FOR LISTED COMPANIES. PREVIOUSLY, THE COMPANY OPERATED AS A MEDICAL FACILITY AND ALSO EXPLORED THE PROVISION OF SERVICES SUCH AS ONCOLOGICAL DRUG RESPONSE PREDICTION PLATFORMS AND 3D CELL CULTURE MODELS TO SUPPORT THE DEVELOPMENT OF CANCER TREATMENT DRUGS. LAST SEPTEMBER, THE COMPANY TOOK THE LEAD IN INITIATING THE STRATEGIC TRANSFORMATION OF THE ATH TOKEN DAT, WITH STOCK PRICES RISING BY ALMOST 200 PER CENT; THEN, AFTER COMPLETING OVER $340 MILLION IN FINANCING, IT OFFICIALLY DECLARED THE TRANSITION TO GPU COMPUTER INFRASTRUCTURE, WITH THE STOCK CODE CHANGED TO AGPU。

CoreWeave (CRWV) is also a member of the "Ai Fast Track" now working with the giants of British Witter and Anthropic and AI. As an old mining company, CoreWeave has made a radical transition in almost three years of fast-growing AI: At the earliest, it signed a $22.4 billion infrastructure contract with OpenAI; last year, it signed a new contract with East Data, which was invested in Britain$1.17 BILLION IN AI AGREEMENTS;recent with AnthropicData centre rental agreement reachedI don't know. According to press figures, CoreWeave ' s revenue in 2025 was $5.13 billion, an increase of 168 per cent from year to year; planned capital expenditure exceeded $30 billion in 2026, with a market value of approximately $62.4 billion at the time of writing. Read more"The Analysis of CoreWeave: From Encrypted Mines to AI Cloud Service Providers"I DON'T KNOW. AS FOR THE TRANSFORMATION OF THE AI OF OTHER MINING COMPANIES, THERE ARE MANY MORE. FOR MORE DETAILSMINING MIGRATION: PEOPLE HOLDING $12.8 BILLION AI ORDERSI don't know。

Of course, Allbirds is not financing much this time compared to the multi-billion dollar orders of mining companies. Moreover, in terms of real-life purchasing power, when compared to the high performance GPU of 25,000-4 million dollars, $50 million is barely enough to buy 2,000 pieces of GPU, but it is analysed as positioning it or borrowing a shell from a large “substitute cloud” company。

In other words, Allbirds' red shoe tags were torn off, while the "AI Concept Unit" label became fragrance. It's not about how much $50 million can buy GPU, it's about..KEEPS THE SHELL OF A NASDAQ LISTED COMPANY -- IT'S ATTRACTIVE FOR AI INFRASTRUCTURE COMPANIES THAT WANT TO ENTER THE OPEN MARKET QUICKLY。

FINALLY, ALTHOUGH FROM THE POINT OF VIEW OF CAPITAL OPERATIONS, AI ' S MODEL FOR CALCULATING BUSINESS IS VERY DIFFERENT FROM LAST YEAR ' S DAT TREASURY MODEL, THERE IS A CERTAIN DIFFERENCE BETWEEN THE TWO:

One, yesAI INDUSTRY'S REAL BUSINESS INCOME COMPARED TO THE ENCRYPTED MONEY INDUSTRYI don't know. According to AnthropicPreviously statedIt's over $30 billion in annual revenue, and in 2025 it stayed at $9 billion; furthermore, as of February, OpenAIAnnualized revenue exceeded $25 billionI DON'T KNOW. DESPITE HIGH VALUATIONS OF HUNDREDS OF BILLIONS OF DOLLARS, REAL BUSINESS INCOME IS SUPPORTED BY DATA THAT ARE MORE STABLE THAN THE MARKET VALUE OF ENCRYPTED CURRENCY PRICES. LARGE MODEL COMPANIES ARE THE BEST BUYERS IN AI ' S COMPUTING BUSINESS, BECAUSE THE PROBLEM IS OBJECTIVE。

Second, yesAI HIGH OPERATING THRESHOLD FOR THE COMPUTING INDUSTRYI DON'T KNOW. UNLIKE DAT TREASURY'S “GEAR-TAKING” STRATEGY, AI ' S COMPUTING BUSINESS IS NOT SIMPLY THE PURCHASE OF GPUS, BUT ALSO THE CONSTRUCTION OF A WHOLE BUSINESS CHAIN, SUCH AS DATA CENTRES, ELECTRICITY, COOLING, NETWORKS, TRANSPORTATION TEAMS, CUSTOMER ACQUISITION, ETC., WHICH MAKES IT MORE DIFFICULT TO “FALSIFY” THEIR ACCESS THRESHOLD, DURATION AND TEAM REQUIREMENTS. ULTIMATELY, DAT ' S BOTTOM ASSET IS A FINANCIAL ASSET, WHILE AI ' S BOTTOM ASSET IS AN OPERATING PHYSICAL ASSET。

Third, yesAI CONTINUOUS CASH FLOWS IN THE COMPUTING INDUSTRYI DON'T KNOW. FOR DAT TREASURY, WHETHER BTC, ETH, OR SOL, BNB, ETC., THE MAIN INCOME IS HIGHLY DEPENDENT ON HIGHER OR LOWER CURRENCY PRICES (THE PLEDGE INCOME IS NOTHING MORE THAN NOTHING) RATHER THAN ON RECURRENT OPERATING INCOME; AI ' S COMPUTING OPERATIONS GENERATE A CONTINUOUS CASH FLOW THROUGH LONG-TERM LEASE CONTRACTS, WHICH IS A SOLID CASH ENTRY。

OF COURSE, THERE IS STILL A HIGH DEGREE OF SIMILARITY IN TERMS OF FINANCING STRUCTURES, SHELL LISTINGS, AND SPECULATION; AND, IN TERMS OF TRIGGERING REGULATORY PRESSURE, COMPANIES THAT SUBSEQUENTLY WANT TO CHANGE TO AI CALCULATOR WILL FACE LIMITATIONS AND SUSTAINED ATTENTION。

Like AllbirdsViews expressed:

• According to Chief Executive Officer FifthVantage Matt Domo, the AI transition is more like a means of boosting weak stock prices. Investors should be wary of the "AI wash" phenomenon, where companies try to exaggerate or even pretend their AI capabilities to market, and it is not without precedent that firms try to capture popular trends through radical transformations, with a number of firms trying to get on a block-link smoother between late 2017 and early 2018
• Jason Schloetzer, Associate Professor, McDonough Business School, Georgetown University, noted that the initial $50 million in financing was “minimal compared to the actual inputs required to become such service providers”, but from a more optimistic point of view, a large influx of new players into the AI field might also reflect the “continuing enthusiasm” of the market for growth
• According to Jay Goldberg, a Seaport Research analyst, it is hard to imagine that a company like Allbirds can offer competitive products or services in this area。

IN THIS TIME OF YEAR, BEFORE THE TRAIN RANG, THERE WAS ALWAYS SOMEONE TRYING TO GET TO THE DOOR. AS TO WHETHER OR NOT TO STAY IN THE CAR OR TO BE ROLLED UNDER THE WHEEL, TIME WAS LEFT TO PUBLISH THE ANSWERS。