Image: Aramco
Saudi Arabia’s Public Investment Fund (PIF) and energy giant Aramco have reached a landmark agreement, outlining plans for Aramco to acquire a minority stake in HUMAIN, the PIF-backed artificial intelligence (AI) company.
The agreement, announced today, marks a strategic move to accelerate the growth of HUMAIN and position Saudi Arabia at the forefront of global AI innovation.
Under the non-binding term sheet, both PIF and Aramco will contribute their AI assets, expertise, and talent to HUMAIN, creating a powerhouse for AI research and development.
While Aramco will take a minority stake, PIF will maintain majority ownership, ensuring continued strategic control.
HUMAIN’s growth and kingdom’s AI ambitions are key factors
The partnership aims to foster rapid growth for HUMAIN, whose offerings include next-generation data centres, advanced AI models, cloud capabilities, and transformative AI solutions.
The goal is to consolidate Saudi Arabia’s AI assets under a single entity and establish the kingdom as a global hub for artificial intelligence.
“This collaboration will fuel AI talent, innovation, and intellectual property,” said Yazeed A Al-Humied, deputy governor of PIF and head of MENA Investments. “We are aligning and accelerating future investment opportunities, strengthening Saudi Arabia’s position as a globally competitive AI hub, and reshaping the future of global AI.”
For Aramco, the investment further bolsters its leadership in industrial AI applications and digital solutions.
CEO Amin H Nasser emphasised the strategic importance of the partnership, noting that Aramco plans to leverage HUMAIN’s infrastructure to boost efficiency, reduce emissions, and maintain its competitive edge in the energy sector, especially as AI-driven energy demand rises.
Collaboration is part of PIF’s overall strategy
The proposed transaction comes as part of PIF’s broader strategy to develop strategic sectors within Saudi Arabia and diversify its economy. PIF has been actively investing in AI, cloud infrastructure, and digital technologies, aiming to position the kingdom as a leading market for innovation and capacity building.
HUMAIN, launched in May 2025, is rapidly scaling its operations in four key areas: data centres, AI infrastructure, multimodal AI models like ALLAM (one of the world’s most powerful Arabic language models), and AI-driven solutions for various industries. Recently, the Saudi Company for Artificial Intelligence (SCAI), previously owned by PIF, was integrated into HUMAIN, further strengthening its capabilities.
The deal is subject to the signing of definitive agreements, regulatory approvals, and other customary conditions.
Upon completion, the transaction is expected to have significant implications for the global AI landscape, positioning Saudi Arabia as a key player in the rapidly expanding field.
