HP acquires Humane, the startup behind the Star Trek-style AI Pin, for $116 million | Technology News

Humane was founded in 2019 by Imran Chaudhri and Bethany Bongiorno, a husband-and-wife duo who previously worked at Apple. Chaudhri, in particular, played a key role in shaping the iPhone’s interface during his time at Apple. The duo pitched the AI Pin as a groundbreaking wearable device designed to transform AI into a conversational, screenless experience. However, things started to change when the company began shipping the device to customers. The AI Pin was plagued by overheating issues, and its AI software frequently provided inaccurate responses. Humane initially hoped to sell 100,000 units in its first year but received only around 10,000 orders.

About a week after the reviews were published, Humane began discussions with HP, a major computer maker, about selling the company for more than $1 billion. There were other bidders as well, though talks remained informal. Last year, Humane hired an investment bank to explore a sale while also seeking new funding. The San Francisco-based company had raised $240 million from high-profile Silicon Valley investors, including OpenAI CEO Sam Altman and Salesforce CEO Marc Benioff, who valued the startup at $1 billion based on its ambition and promise. Humane spent five years developing the AI Pin, according to its founders.

In its announcement, HP stated that it would leverage Humane’s technology to become a more “experience-led company.” With the acquisition, HP will establish a new innovation lab called HP IQ, which will focus on “building an intelligent ecosystem across HP’s products and services.” Chaudhri and Bongiorno will join HP as part of the deal.

HP, a major PC and printer vendor, has been increasingly adding AI capabilities to its laptops and products. However, like many of its industry peers, the company remains heavily dependent on Microsoft to integrate AI features into Windows-powered computers.