HP Inc. will acquire AI capabilities and patent assets from Humane to enhance product innovation and intelligent experiences.
Quiver AI Summary
HP Inc. announced its agreement to acquire key AI capabilities from Humane for $116 million, including the AI platform Cosmos, skilled technical talent, and extensive intellectual property. This acquisition aims to transform HP into a more experience-led company by enabling the development of new devices that integrate AI functionality both locally and in the cloud. Tuan Tran, President of Technology and Innovation at HP, emphasized the potential of this collaboration to enhance the functionality of HP products, such as PCs and printers. The acquisition will also bring a team of engineers and innovators from Humane to form HP IQ, a new AI innovation lab focused on creating an intelligent ecosystem for the future of work. Co-founders of Humane expressed their excitement about joining HP to redefine workforce productivity together. The deal is expected to finalize by the end of February 2025.
Potential Positives
- HP Inc. is acquiring AI capabilities and intellectual property from Humane, including important AI patents and a skilled workforce, which can enhance HP's technological offerings.
- The establishment of HP IQ, a new AI innovation lab, signifies HP's commitment to advancing its products and services in the field of artificial intelligence.
- The acquisition is expected to accelerate the development of a new generation of devices that integrate AI, improving customer functionality and experience.
- This strategic move positions HP as a leader in creating intelligent ecosystems, enhancing its reputation in the technology sector and potentially increasing market competitiveness.
Potential Negatives
- The acquisition of Humane's AI capabilities for $116 million might raise concerns among investors regarding the company's capital allocation and whether such an investment will produce a significant return on investment in a timely manner.
- The press release does not provide detailed information about how the integration of Humane's technology will be executed, which could lead to skepticism about the feasibility of achieving the promised advancements in HP's product ecosystem.
- HP’s emphasis on becoming more experience-led raises questions about whether the company is adequately addressing the ongoing challenges in its core product lines, potentially indicating a shift in focus away from traditional strengths.
FAQ
What did HP Inc. acquire from Humane?
HP Inc. acquired key AI capabilities, including the AI-powered platform Cosmos, skilled talent, and over 300 patents from Humane.
How will the acquisition impact HP's product development?
This acquisition will accelerate HP's ability to create innovative devices that integrate AI seamlessly across their product lineup.
What is HP IQ?
HP IQ is HP's new AI innovation lab formed by the engineers from Humane, focused on developing intelligent ecosystems in HP products.
What is the expected value of the acquisition?
The acquisition of Humane's capabilities is valued at $116 million and is expected to close by the end of February 2025.
How does this acquisition align with HP's future plans?
This move is part of HP's commitment to reinventing the future of work through enhanced technology and intelligent experiences for users.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HPQ Congressional Stock Trading
Members of Congress have traded $HPQ stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $HPQ stock by members of Congress over the last 6 months:
- SENATOR JOHN BOOZMAN sold up to $15,000 on 01/28.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$HPQ Insider Trading Activity
$HPQ insiders have traded $HPQ stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $HPQ stock by insiders over the last 6 months:
- ENRIQUE LORES (President and CEO) has made 0 purchases and 2 sales selling 348,595 shares for an estimated $12,010,449.
- KRISTEN M LUDGATE (Chief People Officer) sold 74,356 shares for an estimated $2,560,077
- ALEX CHO (President, Personal Systems) has made 0 purchases and 2 sales selling 50,585 shares for an estimated $1,755,414.
- STEPHANIE LIEBMAN (Global Controller) sold 11,000 shares for an estimated $357,500
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$HPQ Hedge Fund Activity
We have seen 478 institutional investors add shares of $HPQ stock to their portfolio, and 609 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 5,002,987 shares (-4.3%) from their portfolio in Q4 2024, for an estimated $163,247,465
- UBS GROUP AG added 4,432,496 shares (+157.4%) to their portfolio in Q4 2024, for an estimated $144,632,344
- VANGUARD GROUP INC removed 3,791,079 shares (-2.9%) from their portfolio in Q4 2024, for an estimated $123,702,907
- LEGAL & GENERAL GROUP PLC removed 3,492,678 shares (-29.9%) from their portfolio in Q4 2024, for an estimated $113,966,083
- NUVEEN ASSET MANAGEMENT, LLC removed 2,940,629 shares (-30.5%) from their portfolio in Q4 2024, for an estimated $95,952,724
- ROYAL BANK OF CANADA removed 2,914,771 shares (-41.0%) from their portfolio in Q4 2024, for an estimated $95,108,977
- CONTOUR ASSET MANAGEMENT LLC removed 2,665,880 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $86,987,664
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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 $116 million transaction is expected to close at the end of this month.
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
.
Media Contacts
HP Media Relations
MediaRelations@hp.com
hp.com/go/newsroom
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