Saudi Gazette report

RIYADH — The Public Investment Fund (PIF) and Aramco announced the signing of a non-binding term sheet for Aramco to acquire a significant minority stake in HUMAIN, with PIF retaining majority ownership.

The agreement outlines plans for PIF and Aramco to combine their artificial intelligence (AI) programs and assets under HUMAIN, accelerating the company’s growth and positioning Saudi Arabia as a global hub for AI innovation and technology development.

Under the proposed structure, both entities would contribute their AI assets, capabilities, and talent to HUMAIN, creating a unified national platform to drive innovation, investment, and competitiveness in the global AI landscape.

Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said: “By combining PIF and Aramco’s AI assets under HUMAIN, we are fueling AI talent, innovation, and intellectual property, while aligning and accelerating future investment opportunities. This development further strengthens Saudi Arabia’s position as a globally competitive AI hub and places the country at the heart of reshaping the future of global AI.”

Amin H. Nasser, Aramco President and CEO, said: “Aramco’s planned investment in HUMAIN is expected to strengthen our leadership in industrial AI applications and digital solutions while accelerating the development of Saudi Arabia’s AI infrastructure. Aramco is well positioned to capture opportunities from rising energy demand linked to AI growth, using advanced technologies to enhance efficiency, reduce emissions, and sustain our global competitiveness.”

The partnership aims to unify Saudi Arabia’s AI ecosystem by integrating key assets from both organizations, including advanced data centers, AI models, and cloud infrastructure. HUMAIN, launched in May 2025, is building full-stack AI capabilities across four core areas, next-generation data centers, hyper-performance infrastructure and cloud platforms, advanced AI models, including ALLAM, one of the world’s most powerful multimodal Arabic large language models (LLMs), and transformative AI solutions for government and industry.

Earlier this year, the Saudi Company for Artificial Intelligence (SCAI)—a PIF subsidiary—was transferred to HUMAIN, further consolidating the Kingdom’s AI capabilities.

The term sheet remains subject to definitive agreements, regulatory approvals, and customary conditions.