AI device maker Humane is reportedly looking for a buyer after a disastrous product launch that was universally panned by critics.
According to a report by Bloomberg, via The Verge, Humane is looking for a buyer and is “seeking a price of between $750 million and $1 billion.” The company’s AI Pin was designed to bring AI to the masses in a form factor designed to be an alternative to smartphones.
Humane had the benefit of having a number of former Apple executives on its roster, being founded by Imran Chaudhri and Bethany Bongiorno, with Patrick Gates later joining them. Despite the company’s pedigree, its initial product launch suffered major setbacks, not the least of which was news that OpenAI was working with Jony Ive to design AI-based hardware, news that broke shortly before Humane’s big launch.
Things only got worse from there, with reviewers panning the AI Pin. In fact, YouTuber Marques Brownlee called the device “the worst product I’ve ever reviewed…for now.”
Given how quickly the AI space is moving, how competitive it has become, and Humane’s disastrous first step into it, it’s unclear if the company will be able to secure a deal for anywhere near its asking price.