The transaction includes approximately $2.6 billion in cash contributions and supports HUMAIN’s plans to deploy 3 gigawatts of AI data center capacity by 2030.
DHAHRAN, November 2, 2026: Saudi Aramco has completed the acquisition of a 49% stake in artificial intelligence company HUMAIN through a wholly owned subsidiary, while Saudi Arabia’s Public Investment Fund (PIF) retains a controlling 51% interest.
Announced on November 1, the transaction combines financial investment with the transfer of technology assets to support HUMAIN’s expansion in Saudi Arabia and international markets. Aramco’s contribution includes approximately SAR9.9 billion ($2.6 billion) in cash during 2026, alongside AI, computing, and digital assets.
Deal Follows Agreement Announced in 2025
The completion follows a non-binding term sheet signed by Aramco and PIF on October 28, 2025. That agreement outlined plans for Aramco to acquire a significant minority interest and bring together the organisations’ AI assets, expertise and talent under HUMAIN.
At the time, the proposed investment remained subject to definitive agreements, regulatory approvals and other customary conditions. The latest announcement confirms that the transaction has now closed.
HUMAIN Targets Expanded AI Infrastructure
HUMAIN, launched in May 2025, plans to deploy 3 gigawatts of AI data centre capacity by 2030. Its business spans data centres, computing infrastructure, cloud platforms, advanced AI models and applications.
The company’s capabilities also include ALLaM, an Arabic large language model. Its expansion is intended to serve growing demand for AI computing and help public and private organisations adopt the technology.
Aramco Seeks Industrial Applications
For Aramco, the partnership is expected to support the use of AI across industrial operations while creating opportunities to commercialise its existing digital capabilities.
Aramco President and CEO Amin Nasser said the company had generated $11.3 billion in “Technology Realized Value” since 2023, with AI solutions contributing a significant share. That figure describes value attributed to technology deployment, rather than revenue from this acquisition.
Investment Supports Saudi Technology Ambitions
PIF said the partnership aligns with its 2026–2030 strategy to strengthen connections across its investments, encourage private sector participation and develop internationally competitive Saudi companies.
The shareholders intend to use HUMAIN to expand domestic AI capabilities, attract talent and investment, and build its position in global technology markets. The planned infrastructure deployment remains a target for 2030.
