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      HP to Buy Humane, Maker of the Ai Pin, for $116 Million

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      Humane, which marketed its Ai Pin as the next big thing after smartphones, had raised $240 million from investors, including OpenAI’s Sam Altman. The pin will be discontinued.Humane, the ambitious start-up behind the Ai Pin device that aimed to one day replace smartphones, agreed to sell parts of its business to HP for $116 million, the companies said on Tuesday.HP said it planned to acquire Humane’s “A.I. capabilities,” including its software platform, intellectual property, patents and some employees. The Ai Pin will be shut down, Humane said in a message to customers.The deal caps a downfall for the high-flying start-up, which heavily promoted the $699 pin with ads, a TED Talk and at Paris Fashion Week with supermodels. Humane raised $240 million in funding from high-profile investors, including Marc Benioff, the chief executive of Salesforce, and his counterpart at OpenAI, Sam Altman, valuing the company at $850 million before it released a product.Humane was created by Imran Chaudhri and Bethany Bongiorno, husband-and-wife founders who previously worked at Apple. The pair envisioned a wearable device that people would clip to their clothes and interact with using voice commands and a laser display projected onto their hand. The idea was to cut down on time spent staring at smartphone screens.Bethany Bongiorno and Imran Chaudhri at Humane’s office in San Francisco in 2023.Kelsey McClellan for The New York TimesBut the Ai Pin, which began shipping to customers last spring, was a flop.Reviewers criticized the product, with the A.I. software often giving wrong answers or taking a long time to respond, while the pin’s batteries sometimes overheated. Humane had hoped to sell 100,000 pins in its first year but got only around 10,000 orders. At one point, the company told customers to stop using their charging cases because of the fire risk.Last year, Humane hired an investment bank to sell itself, while also seeking new funding. The start-up sought a sale price of more than $1 billion.On Tuesday, a letter posted to Humane’s website said that the pins would no longer work at the end of this month and that customer data would be deleted. “Our business priorities have shifted,” the letter said.HP, which sells an estimated 53 million PCs a year, has said it wants to add A.I. capabilities to its laptops to make them more useful. Last year, HP worked with Microsoft to develop a line of A.I. computers called Copilot+ PCs.In its announcement, HP said it would use Humane’s technology to become a more “experience-led company.” Humane’s workers will be part of a new innovation lab called HP IQ, which will focus on “building an intelligent ecosystem across HP’s products and services.” Mr. Chaudhri and Ms. Bongiorno will join the company, as will the majority of the start-up’s employees, an HP spokeswoman said.“We are investing and innovating aggressively in new A.I.-powered capabilities and software,” said Enrique Lores, president and chief executive of HP, during a call with analysts in November. “We will focus on delivering a cutting-edge A.I.-powered tech.” More

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      They’ve Been Waiting Years to Go Public. They’re Still Waiting.

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      Some tech companies are delaying or pulling their listing plans as the Trump administration’s tariff announcements and other changes cause market volatility and uncertainty.Turo, a car rental start-up in San Francisco, has been trying to go public since 2021. But a volatile stock market in early 2022 delayed its listing. Since then, the company has waited for the right moment.Last week, Turo pulled its listing entirely. “Now is not the right time,” Andre Haddad, the company’s chief executive, said in a statement.For months, investors have eagerly anticipated a wave of initial public offerings, spurred by President Trump’s new administration. Since his election victory in November, which ended a tumultuous campaign season, Corporate America and Wall Street have heralded the start of a pro-business, anti-regulation period. The stock market soared ahead of an expected bonanza of deal making.But the administration’s tariff announcements and rapid-fire regulatory changes have created uncertainty and volatility. Worsening inflation has set off market jitters. And the emergence of the Chinese artificial intelligence app DeepSeek last month caused investors to question their optimistic bets on U.S. tech, leading to a drastic sell-off among A.I.-related stocks.All that has affected initial public offerings. “The calendar just went from fully booked to being wide open in a span of like three weeks,” said Phil Haslett, a founder of EquityZen, a site that helps private companies and their employees sell their stock.So far this year, the pace of public offerings is ahead of last year’s, with companies raising $6.6 billion from listings, up 14 percent compared with this time last year, according to Renaissance Capital, which manages I.P.O.-focused exchange traded funds.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      With Trump’s Help, Intel Could Hand Control of Chip Plants to TSMC

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      The Silicon Valley giant is trying to cut a deal it hopes would help it pull out of a yearslong slump.Intel, a fallen Silicon Valley icon trying to restore its reputation as America’s most prominent semiconductor company, is working with the Trump administration on a plan to turn over the operation of its chip-making plants to a giant Taiwanese rival.Over the past few months, Frank Yeary, the interim executive chairman of Intel, has spoken with administration officials and leaders of Taiwan Semiconductor Manufacturing Company about a deal that would separate Intel’s ailing manufacturing business from its semiconductor design and product business, according to four people with knowledge of the plan, who spoke on the condition of anonymity.TSMC, which produces an estimated 90 percent of the world’s most advanced semiconductors, would assume control of Intel’s manufacturing business and take a majority stake in the business alongside a consortium of investors that could include private equity firms and other tech companies, the four people said.The Trump administration has encouraged TSMC to do the deal. Howard Lutnick, President Trump’s nominee for commerce secretary, has been involved in the conversations and considers them one of the most consequential challenges of his new job, two of the people familiar with the discussions said.Intel is the only American-owned maker of advanced logic chips and has been at the forefront of U.S. efforts to rev up domestic manufacturing of semiconductors, which are a foundational technology. But Intel has struggled to compete against TSMC. Most of that company’s production is done in Taiwan, which is a strategic risk for the United States because of growing threats from the government of mainland China.Howard Lutnick has been involved in the talks as President Trump’s pick to lead the Commerce Department.Eric Lee/The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      JD Vance Is in Charge of Getting a TikTok Deal. Can He Find a Buyer?

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      The vice president is in a tricky position as he looks for a deal to save the popular short-form video app, which is subject to being banned in the U.S. if it is not sold to a non-Chinese owner.Last week, an aide for Vice President JD Vance reached out to the billionaire Frank McCourt.The topic at hand was Mr. McCourt’s $20 billion long-shot offer to buy TikTok, the Chinese-owned video app. Mr. Vance’s aide wanted details about the bid, which was one of several public overtures for the app, according to two people familiar with the process.The inquiry was one of Mr. Vance’s earliest moves toward corralling a deal for the popular app after President Trump tapped him earlier this month to find an arrangement to save it. TikTok was recently banned in the United States under a new federal law that prohibited distribution in the country if it was not sold to a non-Chinese owner, though Mr. Trump delayed enforcement of the law until early April.Mr. Trump’s assignment plunges Mr. Vance into a fraught geopolitical and corporate negotiation over the fate of the app, which counts some 170 million American users. It is not clear who could buy TikTok in the United States, or even whether China or ByteDance, TikTok’s owner, would allow a sale. And the Trump administration is under scrutiny for its decision to disregard the law’s Jan. 19 deadline for a sale or a ban. Mr. Vance’s involvement ensures that he and Mr. Trump — both of whom once supported banning TikTok because of national security concerns — have some public accountability for saving it, according to analysts and people involved in negotiations for a sale. Tapping Mr. Vance could also help lend negotiations more credibility, said Peter Harrell, a former Biden White House official who worked on national security, tech and economic issues.“What he brings to the role is everybody’s going to take his call and take him seriously,” Mr. Harrell said. “Most people, given Trump has been pretty clear he’s tapped Vance for this, will assume that Vance is speaking for the president.”An electronic billboard for TikTok in Times Square. Mr. Vance’s involvement adds some credibility to the White House’s efforts to find new owner for TikTok.Juan Arredondo for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Banks Sell $4.7 Billion of X’s Debt, in a Sign of Investor Demand

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      The social media company is attracting investor interest because of Elon Musk’s close ties to President Trump and a recent jump in revenue.When Elon Musk bought X for $44 billion in 2022, more than a quarter of that was financed by loans from banks including Morgan Stanley. Banks normally quickly sell off such loans, but in this case they kept much of that debt because investors were reluctant to bet on the social media company’s floundering business.Mr. Musk’s newfound power in President Trump’s administration has helped change investors’ minds.On Thursday, the banks sold roughly $4.7 billion of X’s debt, according to two people familiar with the transaction, more than the $3 billion that they had originally intended to sell. Mr. Musk, who has become a close adviser to the president and is running a government efficiency initiative, has faced increasing questions about whether the companies he leads — including the electric automaker Tesla and the rocket company SpaceX — are benefiting from his position as Mr. Trump’s right-hand man.X has become a go-to platform for information on the administration’s plans, which Mr. Musk broadcasts to his account’s more than 217 million followers. Advertisers have returned in droves to X, people familiar with the deals said, fueling a boost in revenue. The company told investors that its revenue in December jumped 21 percent from a month earlier, a person with knowledge of the finances said.An X spokesman and Morgan Stanley declined to comment. Bloomberg previously reported the jump in revenue and details of the transaction.Selling the debt — which totaled $12.5 billion at the time of the acquisition — helps Mr. Musk and the banks, which have been saddled with it for two years. Just two months ago, investors were negotiating to buy that debt at a loss of 10 percent to 20 percent for the banks, one person involved in the discussions said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Apple and Google Restore TikTok to App Stores in the U.S.

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      The popular social media app was removed to comply with a new law that banned it in the United States.Apple and Google restored TikTok to their app stores in the United States on Thursday evening, several weeks after they removed the short-form video platform in compliance with a new law that banned it in the country.President Trump tried to pause enforcement of the TikTok ban with an executive order, but the companies were reluctant to bring TikTok back until they were certain they were not breaking the law.The law, signed last year, had called for ByteDance, TikTok’s Chinese parent company, to sell TikTok to a non-Chinese owner by Jan. 19. The law targeted app store operators and internet hosting companies with steep financial penalties if they distributed or maintained TikTok.Mr. Trump’s executive order prompted confusion among technology companies. While Apple and Google kept TikTok out of their app stores, companies like Oracle, which provided back-end technology support for the app, resumed working with it after a brief shutdown in January.While Apple and Google blocked new downloads of TikTok, the app was largely unaffected if it was already downloaded on American phones. TikTok claims 170 million U.S. users.The return of the app to the stores is a positive sign for TikTok, which now has until early April to find a buyer. It’s also a remarkable turnabout for the company. Just a month ago, it was facing down a ban with wide bipartisan support in Congress. The law was upheld unanimously by the Supreme Court — only to be upended by Mr. Trump.TikTok executives told video creators in a briefing call on Tuesday that it was optimistic that Apple and Google would soon reinstate the app, said H. Lee Justine, a TikTok creator and author, who was on the call.“They said that the administration had given them a lot of information that they wouldn’t be penalized and that they were really hopeful that any day now they would put it back in the app stores,” she said in an interview. “It makes me very hopeful that they felt that they could do this because hopefully this means that long term there’s not going to be issues and this will work out.”TikTok declined to comment on its return to the app stores or the briefing.This is a developing story. Check back for updates. More

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      Elon Musk’s X Settles Trump Lawsuit

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      X has agreed to pay in the range of $10 million to settle a lawsuit brought by President Trump over the 2021 suspension of his account on the social media platform, according to a person briefed on the matter.The company, then known as Twitter, removed Mr. Trump from its platform after the riot at the U.S. Capitol on Jan. 6, 2021, citing his inflammatory posts and arguing they could lead to more violence. Mr. Trump sued, claiming Twitter and other tech firms that removed his accounts had wrongfully censored him.Elon Musk, now X’s owner and a close adviser to the president, reinstated Mr. Trump’s account shortly after acquiring the company in 2022. Mr. Musk has thrown his support behind Mr. Trump, donating more than $250 million to his campaign, and is now running a government cost-cutting initiative called the Department of Government Efficiency.The settlement further cements the relationship between Mr. Musk and Mr. Trump. Details of the agreement were not made public in court filings, but X and Mr. Trump notified the Ninth Circuit Court of Appeals on Friday that they had agreed to dismiss the lawsuit. Both parties agreed to pay their own costs, according to a court filing.The settlement amount was previously reported by The Wall Street Journal. A spokesman for X did not respond to a request for comment. It was not immediately clear what entity would receive the money.Mr. Trump sued Twitter, Facebook and Google, the parent company of YouTube, after the platforms suspended his accounts in the wake of the attack on the Capitol. After the riot, Mr. Trump had used his Twitter account to praise his supporters, calling them “patriots.”Mr. Trump also posted that he would not attend the inauguration of Joseph R. Biden Jr., which Twitter’s safety teams said at the time could have signaled his supporters to stage another attack on that event. Twitter said it suspended Mr. Trump’s account “due to the risk of further incitement of violence.”Meta, the parent company of Facebook, Instagram and WhatsApp, settled its lawsuit last month, agreeing to pay the president $25 million. Mark Zuckerberg, Meta’s chief executive, has also courted Mr. Trump in recent months, donating to his inauguration fund and making sweeping changes to Meta’s policies to allow for more types of speech across the company’s apps.In December, ABC News agreed to pay $15 million to settle a defamation lawsuit by Mr. Trump. ABC News said it would donate the money to Mr. Trump’s future presidential foundation and museum.Meta agreed to similar terms in its settlement with Mr. Trump. About $22 million will finance Mr. Trump’s presidential library, with the remaining $3 million set aside to for Mr. Trump’s legal fees and other plaintiffs who joined the lawsuit. More

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      Digital Estate Planning: How to Prepare Your Social Media Accounts

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      When planning your estate, leave instructions for handling your online accounts, data and other electronic affairs.How do you want your social media pages, smartphone photos and computer files handled after you die? While property and money distribution are usually at the top of the estate-planning list, don’t forget to leave instructions regarding your digital accounts and assets — so your survivors are left with more than just random bits and pixels from your online presence.Here’s a short guide to getting your digital material in order, as well as advice for dealing with the accounts of those who departed without leaving directions.Create a Digital DirectiveA law known as the Revised Uniform Fiduciary Access to Digital Assets Act, enacted by most states, gives a chosen representative (like your estate’s executor) the authority to manage your electronic affairs. For specific instructions, create a document stipulating how you want your online accounts and all digital content handled when you die or become incapacitated, and keep it with your other estate papers.Giving access to your account user names and passwords will greatly help your representative, but proceed carefully. You will need a safe place to list the credentials for all your financial institutions, as well as for any e-commerce stores, insurance policies, online storage, email, social media platforms, cable and wireless carriers, medical apps, and media subscriptions.The 1Password app can hold all kinds of confidential information.1PasswordOne way to encrypt and store this sensitive information is to enter it all into a password-manager app. Wirecutter, the product review site owned by The New York Times, recommends 1Password ($3 a month for an individual plan, $5 a month for the shared family plan) or Bitwarden (free, with in-app upgrades). Apple and Google have their own free apps, which save and store passwords on devices running their software.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More