HP has finalized an acquisition deal with Humane, costing $116 million, to obtain its AI resources and talent. Following this, the Ai Pin product will be discontinued, signifying the end of Humane’s initial ambitions to position the device as a smartphone replacement. Noteworthy investors had previously supported Humane, which highlighted the challenges faced by innovative start-ups.
HP has announced its acquisition of parts of Humane, a start-up known for its ambitious Ai Pin device, for $116 million. This transaction will enable HP to secure Humane’s artificial intelligence capabilities, including its software, intellectual property, patents, and certain personnel. Notably, the Ai Pin, which once sought to innovate the smartphone market, will be discontinued following this acquisition.
This acquisition marks a significant shift for Humane after its ambitious plans to revolutionize personal technology with the Ai Pin. Despite previous success in raising substantial funding, the discontinuation of the product illustrates the challenges faced by start-ups in rapidly evolving markets. HP’s purchase highlights the growing importance of AI technology in the tech industry.
Original Source: www.nytimes.com
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