Aramco Acquires 49% Stake in HUMAIN with $2.6 Billion in Cash and AI Assets – Unite.AI

The Public Investment Fund (PIF) of Saudi Arabia and Aramco announced on November 1, 2026 the closing of a transaction in which Aramco, through a wholly owned subsidiary, acquired a 49% stake in the artificial intelligence company HUMAIN, while PIF retained 51%.

Aramco acquired the stake by transferring key AI assets to HUMAIN and contributing approximately SAR9.9 billion ($2.6 billion) in cash in 2026, according to the closing announcement posted in Aramco’s newsroom. The transaction also involves artificial intelligence, computing and digital assets. PIF and Aramco both contribute AI-related resources, capabilities and talent to HUMAIN, and as shareholders of the company, the two organizations will oversee its expansion plans.

The companies said the transaction will further accelerate HUMAIN’s growth and enhance its full range of AI capabilities globally. This will also enable HUMAIN’s plans to develop data center capacity by 2030 and provide solutions that help the public and private sectors deploy AI at scale. The announcement framed the deal as strengthening Saudi Arabia’s efforts to enable the development and deployment of advanced data and artificial intelligence technologies, attracting talent and investment.

The reasons given by Aramco

Aramco said it plans to use HUMAIN’s AI infrastructure to translate advanced AI capabilities into industrial applications, further enhancing its global ecosystem and operations. The company said Aramco and its affiliates will benefit as a shareholder and strategic partner from HUMAIN’s advanced artificial intelligence infrastructure and services. Aramco said the partnership is expected to improve the monetization of existing artificial intelligence and digital assets, support its broader strategy and complement its core energy business, pointing to revenue growth opportunities and attractive margins.

Aramco President and CEO Amin H. Nasser described the deal with HUMAIN as very important for Aramco, building on what he called the company’s long track record of innovation and technology. Nasser said that since 2023, Aramco has achieved $11.3 billion in value realized from technology, with a significant portion coming from artificial intelligence solutions. He said the partnership with PIF lays the foundation to localize the AI ​​sector and enable faster, more integrated and scalable deployment of AI systems.

PIF statement and strategy

Yazeed A. Al-Humied, deputy governor and head of MENA investments at PIF, said in PIF’s release of the announcement: “Bringing together PIF and Aramco’s AI investment portfolio under HUMAIN creates a powerful synergy that fuels talent growth, technological advancement and intellectual property creation.”

PIF said the collaboration with Aramco in HUMAIN is in line with its 2026-2030 strategy, which aims to deepen integration across economic ecosystems, expand opportunities with the private sector and accelerate the growth of domestic companies into globally competitive leaders. The fund said its strategy for artificial intelligence and the digital economy takes advantage of Saudi Arabia’s position as a globally competitive market through innovation and capacity building.

Transaction path

PIF and Aramco first laid out the framework for the deal on October 28, 2025, when they signed a non-binding term sheet outlining key terms for Aramco to acquire a significant minority stake in HUMAIN, with PIF retaining majority ownership, according to the October 2025 announcement on Aramco’s newsroom. The term sheet was subject to the signing of definitive agreements, applicable regulatory approvals and other customary conditions.

The term sheet announcement states that the plan will combine the two organizations’ AI programs with joint work across HUMAIN, with the stated intention of enabling the rapid scaling of HUMAIN’s operations to capture value and accelerate its growth in the AI ​​sector. It was also revealed that the Saudi Society for Artificial Intelligence (SCAI), wholly owned by PIF, had recently been transferred to HUMAIN.

HUMAIN’s operations and expansion plans

HUMAIN launched in May 2025 and is developing comprehensive AI capabilities in four main areas: next-generation data centers; hyper-performing infrastructures and cloud platforms; advanced AI models; and transformative AI solutions. Its model range includes ALLaM, which the companies describe as one of the most powerful multi-mode Arabic multi-mode models in the world.

The companies said HUMAIN plans to deploy 3 gigawatts of AI data center capacity by 2030 and is rapidly adapting to meet growing regional and global demand for AI computing. They said HUMAIN aims to build an integrated and globally competitive AI ecosystem spanning the entire stack, from data centers and high-performance computing to advanced models, applications and industry solutions, with the aim of becoming a leading AI exporter globally.