Humane Trims Workforce By 4% Before Releasing Its First Product, The Viral AI Pin Wearable
Portfolio Pulse from Rounak Jain
Humane, a startup founded by Apple veterans, has laid off 4% of its workforce, affecting ten employees, ahead of the launch of its first product, the AI Pin. The AI Pin, a wearable AI-powered device, is set to ship in March and has been recognized as one of Time Magazine's 'Best Inventions of 2023.' The company has raised $230 million from investors including Microsoft Corp. (NASDAQ:MSFT), and is undergoing an organizational refresh as it prepares for growth.
January 10, 2024 | 8:18 am
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Microsoft Corp. (NASDAQ:MSFT) is an investor in Humane, which just announced layoffs ahead of its AI Pin wearable release. The product has been highlighted as one of Time Magazine's 'Best Inventions of 2023.'
While Microsoft is an investor in Humane, the layoffs and product launch are unlikely to have a significant short-term impact on Microsoft's stock price due to the size and diversity of Microsoft's investment portfolio.
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