HP Inc. is acquiring assets from Humane Inc., a startup known for its wearable AI Pin device, in a deal valued at US$116 million.

The transaction includes most of Humane’s employees, intellectual property, and software platform, but excludes the AI Pin hardware division, which is set to be discontinued.

Humane’s founders, Imran Chaudhri and Bethany Bongiorno, will join HP to lead a new AI-focused division.

The deal is expected to close by the end of February.

Launched in 2023, Humane faced criticism for glitches, quality issues, and a fire risk. Despite raising over US$230 million, the company struggled in the market.

In 2024, it shifted focus to software and introduced the AI operating system Cosmos, which HP plans to integrate into its products.

Reports indicate Humane sought buyers as early as May 2024, initially aiming for a US$750 million to US$1 billion valuation before settling on HP’s offer.

HP sees AI integration as a way to enhance cost, security, and performance in its devices.