According to a source familiar with the matter, Humane, an AI hardware startup founded by ex-Apple designers, is looking for a buyer following its lukewarm debut with AI Pin.
According to CNBC, the company is currently in talks with HP and other firms, including multiple telecom companies.
Humane has hired investment bank Tidal Partners to advise on a potential transaction, according to the source.
The startup marketed its artificial intelligence device, worn on the lapel, as a way to replace a user’s smartphone, allowing them to place calls, send texts, perform searches, and more using voice control. The AI Pin costs $699 and requires a $24 monthly data subscription with T-Mobile.
But when Humane sent the AI Pin to gadget reviewers in April, it received a lukewarm response, with many calling it untrustworthy and ineffective. Reviewers, for example, said it was “more science project than finished product,” “completely broken,” and a “party trick” at best.
The New York Times was the first to report on the talks with HP.
In April, a source familiar with the company told CNBC that, while Humane was behind schedule, it is common for hardware startups to launch products that aren’t perfect. According to the source, the company was likely six months behind schedule, which was not surprising given the nature of the venture.
Humane received $100 million in funding from Microsoft, LG’s venture arm, and Tiger Global before launching its device, totaling over $200 million. OpenAI CEO Sam Altman and Salesforce CEO Marc Benioff have backed the project.
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