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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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      Mike Lynch, Tech Mogul Acquitted of Fraud, Dies at 59

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      The British entrepreneur, who was found not guilty of fraud charges in the sale of his company to Hewlett-Packard, was celebrating his acquittal when his yacht that sank off the coast of Sicily in a storm.Mike Lynch, a British software mogul who was once celebrated as a top technology leader — only to spend more than a decade defending himself against accusations that he orchestrated one of the biggest frauds in Silicon Valley history — died on Monday after his yacht sank off the coast of Sicily. He was 59.An official in the Italian city of Palermo confirmed on Thursday that Mr. Lynch’s body had been recovered by divers.Twelve guests and 10 crew members were onboard the yacht, the Bayesian, when it went down during a violent storm. Mr. Lynch’s wife, Angela Bacares, was rescued, along with nine crew members and six passengers. Six bodies have been recovered and one person is still missing, Mr. Lynch’s daughter Hannah Lynch.Mr. Lynch’s death came two months after he was acquitted in federal court in San Francisco of criminal fraud charges, tied to the $11 billion sale of his company, Autonomy, to Hewlett-Packard in 2011. The takeover, widely regarded among investors as one of the worst deals in history, led HP to accuse Mr. Lynch of deception.U.S. prosecutors charged Mr. Lynch with more than a dozen counts of fraud and conspiracy related to the deal, with a potential sentence running to about two decades in prison.Emergency services search for survivors after a yacht sank off the coast of Sicily on Monday.Alberto Lo Bianco/, via LaPresse, via Associated PressWe 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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      Ron Simons, Who Brought Black Stories to Broadway, Dies at 63

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      He left a career in tech and found success as a producer, winning four Tonys. His mission: staging productions about underrepresented communities.Ron Simons, who left his job as an executive at Microsoft to pursue his dream of acting but later found his métier as a theatrical producer — one of the relatively few Black ones on Broadway — and won four Tony Awards, died on June 12. He was 63.His death was announced by Simonsays Entertainment, his production company. A spokesman declined to say where he died or provide the cause of death.Mr. Simons had been acting for about a decade, but was unhappy with the roles he was being offered, when he started producing in 2009. He believed that his experience as an actor and businessman would serve him well as a producer.“I’ve found that many businesspeople can handle the question of financial viability but can’t judge a good story, so as an artist I also have that area of expertise,” he told DC Theater Arts in 2020. “Plus, even if it’s a good story, it has to be crafted to take it to the stage, so the leadership must understand how to get it there.”Success came quickly. He was a producer of “The Gershwins’ Porgy and Bess,” starring Audra McDonald and Norm Lewis, which won the Tony for best revival of a musical in 2012. Mr. Simons won a second Tony a year later for best play for “Vanya and Sonia and Masha and Spike,” a comedy by Christopher Durang about three middle-aged siblings.Audra McDonald, center, in the musical “The Gershwins’ Porgy and Bess,” which Mr. Simons produced.Sara Krulwich/The New York TimesFrom left David Hyde Pierce, Kristine Nielsen and Sigourney Weaver in the Tony-winning “Vanya and Sonia and Masha and Spike.”Sara Krulwich/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