02/11/2026 04:03 AST
Saudi Aramco has completed its acquisition of a 49 percent stake in artificial intelligence company Humain, formalising an agreement first announced in October 2025, in a transaction involving approximately SR9.9 billion ($2.6 billion) in cash contributions during 2026.
The Public Investment Fund retains a 51 percent stake in Humain, while Aramco holds its interest through a wholly owned subsidiary. The transaction also involves Aramco contributing AI, computing and digital assets to the company, according to a joint statement issued on Nov. 1.
The closing follows a non-binding term sheet signed by PIF and Aramco on Oct. 28, 2025, outlining plans to combine their AI assets, capabilities and talent under Humain, with the sovereign wealth fund retaining majority ownership.
The transaction supports Humain's plans to deploy 3 gigawatts of AI data centre capacity by 2030 and expand its operations across computing infrastructure, advanced models, applications and industry solutions serving public- and private-sector customers.
Amin Nasser, Aramco's president and CEO, said: "Since 2023, Aramco has achieved $11.3 billion in Technology Realized Value, with a significant portion coming from AI solutions."
He added: "This partnership with PIF strengthens Aramco's position as a global technology leader and AI powerhouse, while laying the foundation for localizing the AI industry and enabling faster, more integrated, and scalable deployment of AI systems."
Industrial applications
Aramco expects to use Humain's infrastructure to deploy AI across its industrial operations, including applications that enhance its business ecosystem and global operational performance.
The energy company, together with its affiliates, is also expected to benefit from Humain's AI infrastructure and services as a shareholder and strategic partner.
The partnership is expected to create opportunities for revenue growth and attractive margins, enhance Aramco's monetisation of existing AI and digital assets, support its broader strategy and complement its core energy business.
Yazeed Al-Humied, PIF's deputy governor and head of Middle East and North Africa investments, said bringing the two shareholders' AI investment portfolios together under Humain would create synergies in talent development, technological advancement and intellectual property creation.
He said the transaction would strengthen AI's role as an enabler across PIF's six economic ecosystems, while expanding private-sector participation and advancing the development of cutting-edge technologies in Saudi Arabia.
Capacity expansion
Launched in May 2025, Humain is developing full-stack AI capabilities across four core areas: next-generation data centres; high-performance computing infrastructure and cloud platforms; advanced AI models, including ALLaM, a multimodal Arabic large language model; and AI solutions for businesses and government entities.
The company is targeting 3 GW of AI data centre capacity by 2030 as it seeks to meet growing regional and international demand for computing power and establish itself as a global exporter of AI capabilities.
Its expansion has also begun attracting prospective international customers.
On Oct. 21, Humain and DataVolt announced a preliminary framework agreement with AI cloud company Nebius for data centre capacity at their planned campus in Neom's Oxagon.
Under the proposed arrangement, Nebius would take up to 50 megawatts of capacity, representing half of the initial 100 MW currently under construction within the project's planned first phase of 360 MW.
The proposed allocation is expected to become operational in phases from the fourth quarter of 2027, according to the announcement.
Arab News
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