Humane seeks buyer for AI Pin business, valued at up to $1 billion

Tech startup Humane is reportedly seeking a buyer for its business, just over a month after launching its AI Pin, according to Bloomberg.

The company is looking to sell for between $750 million and $1 billion. The AI Pin, described as a "wearable Siri button," is designed to provide quick access to an AI assistant. However, despite raising $230 million from high-profile investors, the AI Pin received poor reviews upon release.

Critics noted that the device was slow, produced irrelevant responses, had poor battery life, and was difficult to control. It costs $700 to buy and requires a $24 monthly fee for access to AI technology and 4G service.

Humane's search for a buyer is in the early stages, and a deal may not be finalized.