Aramco secures 49% HUMAIN ownership as PIF retains control

Saudi Aramco has completed its acquisition of a 49% stake in artificial intelligence company HUMAIN, while Saudi Arabia’s Public Investment Fund (PIF) retains majority ownership, formalising a transaction involving approximately $2.6 billion in cash contributions during 2026.
The agreement, announced on Sunday, November 1, gives Aramco its holding through a wholly owned subsidiary, with PIF retaining 51% of HUMAIN. The transaction also involves transferring artificial intelligence, computing and digital assets to the technology company.
The two shareholders said the arrangement would accelerate HUMAIN’s expansion into international markets and strengthen its capacity to develop advanced computing infrastructure, artificial intelligence models and specialised applications for government and commercial customers.
Aramco will contribute approximately 9.9 billion Saudi riyals in cash during 2026 alongside its existing technology assets. The companies did not disclose a separate valuation for the assets being transferred or provide a comprehensive valuation of HUMAIN following the transaction.
The ownership restructuring places one of the world’s largest energy companies alongside Saudi Arabia’s sovereign wealth fund in overseeing HUMAIN’s development, combining Aramco’s industrial technology experience with PIF’s investment resources.
HUMAIN plans to deploy three gigawatts of artificial intelligence data centre capacity by 2030, a substantial expansion intended to meet growing demand for computing power from regional and international customers.
The planned infrastructure will support high-performance computing, cloud services, advanced artificial intelligence models and applications designed for deployment across different industries.
Aramco expects to use HUMAIN’s infrastructure to expand artificial intelligence applications throughout its industrial operations. The partnership is also intended to generate commercial returns from digital technologies and computing assets developed within the energy group.
Amin Nasser, Aramco’s president and chief executive, said the investment would support the company’s technology ambitions while complementing its established energy operations.
Nasser disclosed that Aramco had generated $11.3 billion in what it describes as Technology Realized Value since 2023, with artificial intelligence solutions accounting for a significant proportion.
The figure represents Aramco’s internal measure of value generated through technology deployment rather than revenue earned from selling artificial intelligence products.
The company expects the partnership to create additional opportunities to commercialise existing digital assets, develop industrial applications and access computing infrastructure capable of supporting more extensive artificial intelligence deployment.
Yazeed Al-Humied, PIF’s deputy governor and head of Middle East and North Africa investments, said combining the shareholders’ artificial intelligence portfolios would support technological development, specialist talent and intellectual property creation.
He also linked the transaction to expanding private-sector participation across PIF’s investment portfolio and strengthening artificial intelligence capabilities within Saudi Arabia.
The transaction aligns with PIF’s strategy for 2026–2030, which prioritises greater integration across economic sectors, broader private-sector investment and the development of internationally competitive companies.
For HUMAIN, the agreement provides additional financial resources and access to industrial expertise as it pursues infrastructure projects requiring substantial capital expenditure and sophisticated technical capabilities.
The company was launched in May 2025 to develop an integrated artificial intelligence business spanning data centres, cloud computing, advanced models and commercial applications.
Its technology portfolio includes ALLaM, a multimodal Arabic large language model designed to support artificial intelligence applications involving Arabic-language content.
HUMAIN’s infrastructure ambitions extend beyond domestic computing requirements, with the company seeking to provide artificial intelligence services to international customers and establish Saudi Arabia as an exporter of computing capabilities.
The investment also strengthens Aramco’s participation in technology businesses outside its principal oil, gas and chemicals operations, although the company has presented artificial intelligence as complementary to its existing industrial activities.
Both shareholders expect opportunities for revenue generation and improved commercial returns from deploying artificial intelligence technologies across business operations and offering related services to external customers.
The agreement follows a non-binding term sheet signed by PIF and Aramco in October 2025, which established the proposed ownership structure and outlined plans to combine their artificial intelligence investments.
Under the completed arrangement, both shareholders will participate in overseeing HUMAIN’s expansion and contribute technical capabilities and personnel to support its operations.
HUMAIN’s stated development priorities encompass next-generation data centres, high-performance computing platforms, advanced artificial intelligence models and specialised solutions for public-sector institutions and private enterprises.
The companies have identified industrial applications as an important area for cooperation, particularly where advanced computing can support operational efficiency and the deployment of digital technologies across Aramco’s businesses.