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Humane AI reportedly looking for a buyer for its biometric wearable business

Humane AI reportedly looking for a buyer for its biometric wearable business
 

mane AI is reportedly in search of a potential buyer for its business, as per a report by Bloomberg. The company is aiming to fetch a price between $750 million and $1 billion in a sale, considering its previous valuation by investors at $850 million, as reported by tech news site The Information.

Former Apple employees Imran Chaudhri and Bethany Bongiorno founded Humane AI  in 2018 with aspirations to potentially compete with the iPhone, and raised a total of $230 million from investors including OpenAI’s CEO Sam Altman. Humane’s wearable AI Pin uses heartbeat biometrics to authenticate its user.

Humane AI has recently garnered attention due to unfavorable product reviews of its wearable AI-powered computer. The device is designed to replace traditional smartphones, allowing users to reduce screen time and carry out tasks seamlessly through various multimodal interactions, such as voice commands, visual data processing, and laser-projected displays onto the user’s hand.

The wearable computer costs $700 and requires a $24 subscription.

The company aimed to establish itself as a disruptive force in the consumer electronics market with its mobile personal device that plays music and runs AI applications.  But like other products introduced in the AI-hardware sector, including the handheld Rabbit device and Meta Platforms Inc.’s AI-powered Ray-Bans, it has yet to catch on.

According to the report, there are no clear indications of a finalized deal for Humane AI, as the process is still in its early stages.

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