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HP Accelerates AI Software Investments to Transform the Future of Work

1. HPQ announced acquisition of AI capabilities from Humane for $116 million. 2. Acquisition includes AI platform Cosmos and a highly skilled tech team. 3. HP aims to develop AI-driven devices for enhanced customer experiences. 4. New lab, HP IQ, will focus on intelligent ecosystems in product innovation. 5. This investment accelerates HP's shift to an experience-led corporate strategy.

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FAQ

Why Bullish?

The acquisition aligns with HPQ's growth strategy in AI innovation, enhancing competitive position.

How important is it?

Acquiring AI technology is crucial for HPQ's future, impacting innovation and market relevance significantly.

Why Long Term?

The integration of AI capabilities will benefit HPQ's product evolution and market share over time, similar to past tech acquisitions enhancing product lines.

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HUMAAPLMSFT
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 RelationsMediaRelations@hp.comhp.com/go/newsroom

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