PALO ALTO, Calif. - HP Inc (NYSE:HPQ). has announced the launch of the world's highest-performance artificial intelligence (AI) personal computer and the first AI model development platform with an integrated trust framework. These innovations are part of HP's broader initiative to provide transformative AI experiences through its range of PCs, software, and partner ecosystem.
The newly introduced HP OmniBook Ultra claims the title of the world’s highest performance AI PC, boasting up to 55 trillion operations per second (TOPS) of neural processing unit (NPU) performance. It is designed to cater to consumers at the forefront of the AI revolution, providing the ability to run demanding workloads, customize models, and ensure privacy with local processing capabilities.
In addition to the OmniBook Ultra, HP is also rolling out its Z by HP AI Studio, which now includes new capabilities for the rapid and secure deployment of AI-powered applications. The platform is enhanced with the integration of Galileo software, enabling users to detect and correct biases in their large language models (LLMs). This makes HP the only workstation manufacturer to offer an AI platform with built-in generative AI trust for LLM development.
The Z by HP AI Studio aims to address the concerns of data scientists, with a study revealing that only 33% are satisfied with their current AI tools, and 81% lack confidence in their company's ability to deploy these tools swiftly. The integration with Galileo is expected to provide needed visibility, control, and trust to enterprise AI projects.
HP's AI PC offerings are complemented by the HP OmniStudio X All-In-One Desktop PCs, available in 27- and 31.5-inch models. These devices are designed to be a performant all-in-one solution for both content creation and entertainment, featuring up to Intel (NASDAQ:INTC)® Core™ Ultra 7 processors and optional NVIDIA (NASDAQ:NVDA)® GeForce RTX™ 4050 graphics.
Sustainability is also a key consideration in HP's new products, with the OmniBook Ultra and OmniStudio X All-In-One PCs designed using recycled materials and meeting various environmental certifications.
The software ecosystem around HP's AI solutions continues to grow, with upcoming updates to the HP AI Companion set to include productivity and creative editing tools from developers like Beautiful.ai, Polymer, and Luminar Neo.
The Z by HP AI Studio with Galileo integration is expected to be available in fall 2024, while the HP OmniBook Ultra and HP OmniStudio X All-In-One Desktop PCs are slated for release in August, with starting prices of $1,449.99 and $1,149.99 respectively.
This announcement is based on a press release statement from HP Inc. (NYSE: HPQ), which operates in more than 170 countries and offers a wide range of devices and services for various sectors, including personal computing and printing.
In other recent news, HP Inc. has seen several noteworthy changes and developments. The company has announced the appointment of Karen Parkhill as its new Chief Financial Officer, effective from August. Parkhill, formerly the Executive Vice President and CFO of Medtronic (NYSE:MDT) plc, is expected to drive HP's financial strategy and operational discipline.
HP Inc. has also expanded its Board of Directors with the addition of Fama Francisco, a seasoned executive from Procter & Gamble. Francisco's experience in global consumer brands is anticipated to enhance the strategic capabilities of the board.
On the earnings front, HP Inc. reported growth in its PC business for the first time in two years, largely due to robust commercial PC sales. The company's commitment to cost reduction and returning all free cash flow to shareholders was highlighted, equating to roughly $400 million.
In legal developments, the proceedings involving Mike Lynch, the British entrepreneur behind Autonomy, a software firm purchased by HP for $11 billion in 2011, are nearing their conclusion. Lynch and former Autonomy finance executive, Stephen Chamberlain, are accused of fraudulent activities that allegedly inflated Autonomy's revenue. A decision on HP's claim of $4 billion in damages is still pending.
InvestingPro Insights
In light of HP Inc.'s latest foray into AI-enhanced computing, investors may find the company's financial health and market performance to be of particular interest. According to recent data from InvestingPro, HP Inc. (NYSE: HPQ) boasts a robust market capitalization of $35.94 billion, signaling strong investor confidence in the company's market presence and strategic initiatives.
An InvestingPro Tip worth noting is HP's history of dividend reliability. The company has not only raised its dividend for 7 consecutive years but has also maintained dividend payments for an impressive 54 consecutive years. This consistency reflects HP's commitment to shareholder returns and could be a reassuring factor for investors looking for stable income streams.
On the earnings front, 9 analysts have revised their earnings expectations upwards for the upcoming period. This positive sentiment is mirrored in HP's P/E ratio, which stands at a competitive 12.34, suggesting that the stock could be undervalued relative to its near-term earnings growth potential. Furthermore, the company's PEG ratio, a metric that combines the P/E ratio with expected earnings growth, is at an attractive 0.84, implying that HP could offer a favorable growth-at-a-reasonable-price opportunity for investors.
For those interested in further insights and metrics, InvestingPro offers additional tips on HP Inc., which can be accessed at https://www.investing.com/pro/HPQ. Use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, and explore the wealth of additional tips available on the platform.
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