HP has announced its acquisition of assets from Humane, the developer behind the wearable Ai Pin, for $116 million, equivalent to approximately Rs. 1,007 crore.
The transaction will encompass the majority of Humane’s workforce, along with its software platform and intellectual property. However, the Ai Pin device business will not be included in the deal and is expected to be phased out, according to an HP spokesperson.
Humane’s team, which features founders Imran Chaudhri and Bethany Bongiorno, will be established as a new division within HP to facilitate the integration of artificial intelligence into the company’s personal computers, printers, and connected conference rooms. Tuan Tran, who oversees HP’s AI initiatives, noted the transitions planned for the team, which includes design and software engineers previously affiliated with Apple Inc.
In April 2024, Humane unveiled its anticipated wearable device, designed for users to engage with AI functionalities, calls, and texts through voice or gesture. The startup envisioned the Ai Pin as a potential replacement for smartphones.
However, the rollout faced significant challenges, including a series of unfavorable reviews and reports of technical glitches, including a serious safety concern linked to a fire risk. Based in San Francisco, Humane had secured over $230 million in investments from prominent figures such as Salesforce CEO Marc Benioff.
In a message to customers, Humane announced the cessation of Ai Pin sales, indicating that existing devices would lose connectivity to the company’s servers after noon San Francisco time on February 28. The company urged users to sync their Ai Pins over Wi-Fi to download any saved photos, videos, and notes before the cut-off, emphasizing the importance of this action to avoid data loss.
Earlier in 2024, Humane had been seeking a buyer, initially hoping to fetch between $750 million and $1 billion for its assets.
Tran expressed admiration for several aspects of Humane’s design, particularly its capability to orchestrate AI models that function both on-device and in the cloud. HP anticipates that the acquisition will be finalized by the end of the month.
Not long ago, Humane shifted its strategic focus away from hardware, opting to rebrand around Cosmos, an AI operating system intended for various devices across home and mobile environments. The software features a unique architecture built around AI agents, which HP might leverage in developing future products.
HP has emphasized the advantages of delivering certain generative AI functionalities locally, highlighting benefits related to cost, security, and performance. Last year, the company introduced a line of computers featuring semiconductors specifically optimized for on-device AI applications.
“While there will be a time and place for standalone AI devices, AI integration across all our products is vital to enhancing productivity for our business customers,” Tran stated.
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