The Public Investment Fund (PIF) and Aramco have completed a major transaction establishing joint ownership of artificial intelligence venture HUMAIN.
Under the terms of the agreement, Aramco has acquired a 49 per cent equity stake in HUMAIN through a wholly owned subsidiary, while PIF retains the remaining 51 per cent controlling interest.
The agreement involves approximately SAR 9.9 billion ($2.6 billion) in cash contributions from Aramco during 2026, alongside the transfer of computing infrastructure, digital assets and technical capabilities to HUMAIN.
Launched in May 2025, HUMAIN develops full-stack artificial intelligence systems across four core sectors: next-generation data centres, cloud computing infrastructure, transformative AI solutions and advanced models such as ALLAM, a multimodal Arabic large language model. The company aims to deploy 3 gigawatts of AI data centre capacity by 2030 to serve regional and international demand.
The joint ownership deal aligns with PIF’s 2026-2030 economic strategy, which prioritises digital technology investment and national corporate growth. For Aramco, the transaction builds on $11.3 billion in Technology Realised Value generated since 2023, allowing the energy company to deploy HUMAIN’s technology across its global operations.
Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said: “Bringing PIF and Aramco’s AI portfolio of investments together under HUMAIN creates a powerful synergy that fuels talent growth, technological advancement, and intellectual property creation. Fully aligned with PIF’s strategic objectives, this transaction accelerates HUMAIN’s growth into a global leader in the sector, strengthening AI as an enabler of PIF’s six ecosystems and further expanding private sector participation across our portfolio while advancing the development of cutting-edge technologies in Saudi Arabia.”
Amin H. Nasser, Aramco President & CEO, said: “The HUMAIN deal is very important to Aramco, building on the company’s long track record of innovation and technology. We are proud of our achieved progress in developing and deploying advanced digital and AI technologies to enhance performance across the oil and gas sectors. Since 2023, Aramco has achieved $11.3 billion in Technology Realized Value, with a significant portion coming from AI solutions. 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. AI will therefore play a vital role in the future of business. We are delighted to collaborate with PIF to help shape the future of AI regionally and globally.”
Aramco is one of the world’s leading integrated energy and chemicals companies, creating value across the hydrocarbon chain and delivering societal and economic benefits to people and communities around the globe. PIF is one of the world’s most impactful investors, with a long-term investment strategy to further drive the economic transformation of Saudi Arabia and deliver sustainable financial returns.
