HP buys Humane for $116 million, AI Pin discontinues operations
By ForGeeks Startup Humane, which developed AI Pin, an ambitious wearable device with AI but faced a failed launch, is going out of business. HP acquired the company for $116 million, but the deal doesn’t include the AI Pin business itself. Instead, HP will get the intellectual property, specialists, and the CosmOS operating system.
The deal does not include the AI Pin business itself.
Humane announced that it will stop selling AI Pin immediately, and devices already sold will stop working on February 28, 2025. Offline features will remain, but online services, including AI access and calls, will be turned off. This will effectively turn the AI Pin into a useless accessory less than a year after its release.
The AI Pin will be discontinued on February 28, 2025.
Returns and compensation
Humane will offer refunds to users who are still within the 90-day refund window. However, customers must apply for a refund, and subscription services will be refunded in proportion to the time remaining. For early buyers, that’s bad news: their $699 device will be rendered useless, and there’s no way to get a full refund.
So it’s bad news for early buyers.
The company also announced that it will delete all user data from its servers on February 28, 2025 at noon Pacific Time. AI Pin owners should download their photos, videos, and notes from the Humane.Center platform beforehand.
All AI Pin owners should download their photos, videos, and notes from the Humane.Center platform beforehand.
With regard to the problematic AI Pin charging case, which was recalled in 2024 due to a fire threat, Humane will not offer a replacement. Instead, users will receive a partial refund after Feb. 28, 2025.
After Feb. 28, 2025.
Humane’s future under HP’s control
According to Bloomberg, Humane founders Imran Chaudhry and Bethany Bongiorno will lead HP’s new IQ division, which will focus on integrating AI into PCs, printers and other devices.
The startup started looking for buyers back in May 2024, when it became apparent that AI Pin was failing. Humane tried to sell for between $750 million and $1 billion, but HP ended up buying the company for just $116 million – less than half of the investment it had raised.
Humanealth
The story HP buys Humane for $116 million, AI Pin shuts down was first published on ITZine.ru.
