Saudi Aramco has completed the acquisition of a 49% stake in HUMAIN, the artificial intelligence company owned by the Public Investment Fund, the two said in a joint statement on 1 November 2026. Aramco is contributing about SAR9.9bn (US$2.6bn) in cash plus AI, compute and digital assets.
Why Saudi Aramco (via a wholly owned subsidiary) is buying HUMAIN (49% stake, from the Public Investment Fund)
Aramco said it expects to use HUMAIN's infrastructure to deploy AI across its industrial operations and to monetise its existing AI and digital assets, with opportunities for revenue growth and attractive margins. The partners aim to build an integrated AI business spanning data centres, compute, models, applications and industry solutions.
“This partnership with PIF strengthens Aramco’s position as a global technology leader and AI powerhouse”
Deal terms and financing
Aramco holds the 49% stake through a wholly owned subsidiary and PIF keeps 51%. The consideration comprises cash contributions of about SAR9.9bn during 2026 and the transfer of AI, compute and digital assets, to which no separate value was attached.
Regulatory approvals and timing
The transaction has closed. It follows a non-binding term sheet signed by PIF and Aramco on 28 October 2025.
Market context
HUMAIN was launched by PIF in May 2025 and develops Arabic large language models, including ALLaM, alongside data centre capacity. It is targeting 3 gigawatts of AI data centre capacity by 2030, part of Saudi Arabia's push to build a domestic AI industry.
