HP to Buy Humane, Maker of the Ai Pin, for $116 Million

Humanity, starting ambitious running behind Artificial Intelligence Pin device The companies said on Tuesday that this aims to replace smartphones one day, and he agreed to sell parts of their business to HP for $ 116 million.

HP said she plans to acquire the “artificial intelligence capabilities”, including the software platform, intellectual property, patents and some employees. Hyman said in a message to customers.

The deal is falling in the fall of the high starting start, which was strongly promoted a $ 699 pin with ads, TED Talk and at the Paris Fashion Week with fashion models. Heiman raised $ 240 million of financing from prominent investors, including Mark Benioff, CEO of Salesforce, and his counterpart in Openaii, Sam Altman, who resides the company for $ 850 million before the product was issued.

Humane was created by Imran Chaudhry and Bithani Bonjorno, the founders of the husband and wife who previously worked in Apple. The husband depicts a worn device that people can cut on their clothes and interact with the use of sound orders and an expected laser screen on their hands. The idea was to reduce the time spent on staring on smart phone screens.

But artificial intelligence pin, which started shipping to customers last spring, It was flipping.

The auditors criticized the product, as the artificial intelligence program often criticized the wrong answers or take a long time to respond, while the pin batteries were sometimes buried. Human was hoping to sell 100,000 pins in his first year, but he got only about 10,000 requests. At some point, the company asked customers to stop using their shipping cases due to fire risks.

Last year, Humane rented an investment bank to sell itself, with a new financing request as well. The startup sought to obtain a sale price of more than one billion dollars.

Tuesday, message Humane on the Internet said the nails will not work at the end of this month and that the customer’s data will be deleted. “Our business priorities have shifted,” said the message.

HP, who sells an estimated 53 million computers annually, said he wants to add the capabilities of Amnesty International to laptops to make them more useful. Last year, HP worked with Microsoft To develop a line of AI computers called Copilot+ PCS.

In its announcement, HP said it would use Humane technology to become “a company that leads experience.” Heman’s workers will be part of a new innovation laboratory called HP IQ, which will focus on “building an intelligent ecosystem via HP products and services. A HP spokeswoman said that Mr. Chaudhry and Mrs. Ponjorno will join the company, as well as the majority of the emerging employees.

“We are investing and creating strongly in the new capabilities and programs operating in Amnesty International,” said Enrique Loris, President and CEO of HP, during a call with analysts in November. “We will focus on presenting an advanced technology.”