Aramco has closed a deal to take a 49% stake in HUMAIN, the AI firm owned by Saudi Arabia’s Public Investment Fund (PIF).
PIF keeps the other 51%, and the two will guide the firm’s growth. Aramco holds the stake through a subsidiary.
In return, it will transfer AI, compute and digital assets to HUMAIN and add about SAR 9.9 billion (US$2.6 billion) in cash in 2026.
However, the firms did not disclose the value for these assets. Both owners will also bring skills and staff to the firm.
Launched in May 2025, HUMAIN is building data centres, cloud platforms and AI models.
One of these is ALLaM, an Arabic large language model. By 2030, the firm plans to have 3 gigawatts of AI data centre capacity.
The goal is to meet rising demand for computing power in the region and beyond.
For its part, Aramco plans to use HUMAIN’s systems to bring AI into its industrial work. The energy group also expects to draw more value from the AI and digital assets it already holds.
Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said the deal fits the fund’s goals and will speed up HUMAIN’s growth. In his view, it will widen the role of AI across the six areas PIF invests in.
He said it should draw more private firms into the fund’s portfolio and help Saudi Arabia build new technology.
Amin H. Nasser, President and CEO at Aramco, said the firm has achieved US$11.3 billion in what it calls Technology Realised Value since 2023. Much of that, he noted, came from AI solutions.
Featured image: Edited by Fintech News UAE, based on image by PIF via Facebook and artacadmy6 via Magnific.
