HP is set to acquire key AI technology from Humane, the start-up that once aimed to replace smartphones with its wearable Ai Pin device, for $116 million. Despite big ambitions and high-profile backing, Humane’s $699 Ai Pin—a device featuring voice commands and a laser display on your hand—failed to catch on, with only about 10,000 orders against a target of 100,000 and safety concerns like overheating batteries. HP sees opportunity in Humane’s intellectual property, software platform, and talent; the company's founders, Imran Chaudhri and Bethany Bongiorno, are joining HP to help boost its innovation through the new HP IQ lab, as the company continues its drive to integrate A.I. capabilities into its products, like its earlier collaboration with Microsoft on Copilot+ PCs.

Key Points:

• Acquisition Details: HP is buying Humane’s AI capabilities—including software, patents, and talent—for $116 million.
• Product Flop: The Ai Pin, once touted as a smartphone replacement, underperformed drastically with only around 10,000 orders and faced criticism for issues like slow AI responses and overheating batteries.
• High-Profile Backing: Humane raised $240 million with notable investors such as Marc Benioff of Salesforce and Sam Altman of OpenAI.
• Strategic Shift: Humane is shutting down the Ai Pin and deleting customer data, while HP integrates Humane's technology and staff into its new innovation lab (HP IQ) to enhance its A.I.-powered offerings.
• HP’s Vision: HP is investing in A.I. to make its laptops smarter, continuing its journey with products like the Copilot+ PCs developed with Microsoft.

Humorous Note: Looks like the Ai Pin couldn’t quite "pin" the smartphone market—guess it didn't stick like it was supposed to!
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