Humane Seeks Acquisition Following AI Pin's Disappointing Launch

Humane Inc., the startup behind the AI Pin wearable computer, is reportedly seeking a buyer, aiming for a valuation between $750 million and $1 billion. Founded by former Apple executives Imran Chaudhri and Bethany Bongiorno, the company has raised $230 million from high-profile investors, including OpenAI CEO Sam Altman. The AI Pin, retailing at $699 with a $24 monthly subscription for AI technology and 4G service, has faced criticism for its sluggish performance, poor battery life, and overheating issues.

Despite the innovative vision of an always-on, wearable AI assistant, the device's underwhelming market entry has led Humane to consider selling the business. The company has been working with a financial adviser to facilitate the potential sale. Humane has acknowledged the feedback and has committed to addressing the device's shortcomings, including plans for firmware updates and integrating OpenAI’s GPT-4 model to enhance its capabilities. The list of potential buyers remains unclear, with interest from major tech companies like Amazon, Apple, Google, Meta, and Microsoft appearing limited.