Humane AI Pin to Lose Most Functions After HP Acquisition

Key Takeaways

1. Humane is being sold to HP for $116 million, a significant loss compared to the $230 million raised in venture capital.
2. The Humane Ai Pin will lose nearly all functionalities on February 28, as it will no longer connect to company servers.
3. The Humane.Center website, essential for managing the Ai Pin, will also be shut down, rendering the device nearly useless.
4. Customers who purchased the Ai Pin within the last 90 days can request a refund due to its loss of functionality.
5. HP acquires over 300 patents and CosmOS, Humane’s AI operating system, while Humane’s co-founders will lead a new AI department at HP.

Humane has revealed in a press statement that it will be sold to HP for $116 million. Since the company raised at least $230 million in venture capital, this deal showcases a major financial setback for Humane’s creators. Additionally, the customers of the company will also feel the impact of this acquisition, as the Humane Ai Pin is set to lose nearly all its functionalities on February 28.

Loss of Functionality

Starting from that date, the Humane Ai Pin will no longer connect with the company’s servers. The Humane.Center website, which is essential for managing the Pin, will also be shut down. As a result, this pricey device will be unable to make calls, send texts, respond to inquiries, or access cloud information, turning it into an attractive piece of electronic waste, though it will still show its battery level. Customers who bought the Ai Pin within the last 90 days can ask for a refund.

A Shift in Direction

Humane has been searching for a buyer for several months after the Ai Pin turned out to be a market failure. Initially, the company aimed for a selling price of over one billion dollars; however, HP managed to slash this estimate by nearly 90 percent. In addition to acquiring the Ai Pin, HP will also gain over 300 patents and pending patent applications, along with CosmOS, Humane’s AI operating system intended to enhance cars and smart home gadgets in the future. The two co-founders of Humane, Imran Chaudhri and Bethany Bongiorno, will lead a new AI department at HP.

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