Humane, Whose AI Pin Flopped, to Sell Assets to HP

Company Overview - Humane is shutting down and selling its assets to HP for $116 million, including its AI-powered platform Cosmos, technical staff, and over 300 patents [1][3] - The acquisition will form HP's new innovation lab, HP IQ, focusing on AI technology [1][10] Product Performance - The AI wearable, Ai Pin, aimed for sales of 100,000 units but only sold 10,000, leading to its discontinuation [2] - Users reported malfunctions, high prices, and overheating issues, prompting a price cut from$699 to $499 [4][6] Market Insights - The Ai Pin was criticized for lacking practical use compared to smartphones, with early adopters expressing dissatisfaction with its functionality [5][6] - Experts noted that the product failed to identify a compelling use case and did not meet customer needs effectively [7][8] Strategic Implications for HP - HP's acquisition is part of its strategic shift towards experience-driven computing and AI-powered devices [9][12] - The integration of Humane's AI capabilities is expected to enhance HP's product line, including PCs and smart printers [9][10] Future Outlook - The transaction is anticipated to close by the end of the month, positioning HP to compete in the growing market for AI-enabled devices [12]