HP Accelerates AI Software Investments to Transform the Future of Work
Rhea-AI Summary
HP Inc. (NYSE: HPQ) has announced a definitive agreement to acquire key AI capabilities from Humane for $116 million. The acquisition includes Humane's AI-powered platform Cosmos, technical talent, and intellectual property comprising over 300 patents and patent applications.
The acquired team will form HP IQ, the company's new AI innovation lab, focusing on building an intelligent ecosystem across HP's products and services. The lab will be part of HP's Technology and Innovation Organization, working to develop AI-enhanced devices that can process AI requests both locally and in the cloud.
The transaction is expected to close by the end of February 2025, marking a significant step in HP's transformation into an experience-led company, particularly in areas such as AI PCs, smart printers, and connected conference rooms.
Positive
- Strategic acquisition of Humane's AI platform and 300+ patents strengthens HP's AI capabilities
- Formation of HP IQ innovation lab enhances R&D capabilities in AI
- Expansion into AI-powered devices opens new revenue streams
- Acquisition of skilled technical talent bolsters internal expertise
Negative
- $116 million cash outlay impacts short-term liquidity
News Market Reaction
On the day this news was published, HPQ gained 1.40%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PALO ALTO, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) announced a definitive agreement to acquire key AI capabilities from Humane, including their AI-powered platform Cosmos, highly skilled technical talent, and intellectual property with more than 300 patents and patent applications. The acquisition advances HP’s transformation into a more experience-led company.
"This investment will rapidly accelerate our ability to develop a new generation of devices that seamlessly orchestrate AI requests both locally and in the cloud," said Tuan Tran, President of Technology and Innovation at HP. "Humane’s AI platform Cosmos, backed by an incredible group of engineers, will help us create an intelligent ecosystem across all HP devices from AI PCs to smart printers and connected conference rooms. This will unlock new levels of functionality for our customers and deliver on the promises of AI."
The acquisition brings a highly skilled group of Humane engineers, architects, and product innovators to HP’s Technology and Innovation Organization. They will form HP IQ, HP’s new AI innovation lab focused on building an intelligent ecosystem across HP’s products and services for the future of work.
“We’re excited to join HP at such a pivotal moment in the industry and help shape the future of intelligent experiences,” said Bethany Bongiorno and Imran Chaudhri, Co-founders of Humane. “HP’s scale, global reach, and operational excellence—combined with our design-led approach, integration technology, and engineering expertise—will redefine workforce productivity.”
HP is committed to reinventing the future of work through technology, delivering experiences that empower organizations and employees to thrive in today's dynamic environment.
The
About HP
HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.
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FAQ
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