Reportedly, Humane AI is actively seeking a potential buyer for its business, according to a Bloomberg report. The company is eyeing a sale price ranging between $750 million and $1 billion, considering its earlier valuation by investors at $850 million, as disclosed by tech news outlet The Information.
Founded in 2018 by former Apple employees Imran Chaudhri and Bethany Bongiorno, Humane AI initially aimed to challenge the dominance of the iPhone. The company managed to raise a significant sum of $230 million from investors, with notable backing from OpenAI’s CEO, Sam Altman. At the core of Humane’s offerings lies its wearable AI Pin, which leverages heartbeat biometrics for user authentication.
However, despite initial buzz and investment, Humane AI has recently faced criticism stemming from unfavorable product reviews of its flagship wearable AI-powered computer. Priced at $700 upfront with an additional $24 subscription, the device is positioned as an alternative to conventional smartphones, boasting features facilitating reduced screen time and seamless task execution through multimodal interactions like voice commands, visual data processing, and laser-projected displays onto the user’s hand.
Humane AI aspired to disrupt the consumer electronics market with its mobile personal device capable of playing music and running AI applications. Yet, akin to other ventures in the AI-hardware domain, such as the Rabbit handheld device and Meta Platforms Inc.’s AI-infused Ray-Bans, widespread adoption has proven elusive.
While reports suggest Humane AI’s pursuit of a buyer, there are no concrete indications of a finalized deal, signifying that the process is still in its nascent stages.
