PIF, Aramco Agree for Aramco to Acquire a Significant Minority Stake in HUMAIN, with PIF Retaining Majority Ownership

The Public Investment Fund (PIF) and Aramco announced the signing of a non-binding term sheet outlining the key terms for Aramco to acquire a significant minority stake in HUMAIN, a PIF company advancing a full range of artificial intelligence (AI) capabilities globally.
 PIF and Aramco would contribute AI assets, capabilities, and talent into HUMAIN, with both entities as shareholders. PIF would retain the majority ownership of HUMAIN. The intention is to enable the rapid scaling of HUMAIN’s operations to capture value and accelerate its growth in the AI sector.
 The proposed transaction is expected to further establish Saudi Arabia as a global leader in enabling advanced data and AI technologies and in attracting talent and investment opportunities.
 Deputy Governor and Head of MENA Investments at PIF Yazeed Al-Humied 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 aligns with PIF’s strategy to further strengthen Saudi Arabia’s position as a globally competitive AI hub and place the country at the heart of reshaping the future of global AI.”
 Aramco President and Chief Executive Officer Amin Nasser said: “Aramco’s planned investment in HUMAIN is expected to further strengthen our leadership in industrial AI applications and digital solutions while accelerating the development of Saudi Arabia's AI infrastructure and driving national transformation. Aramco is well positioned to capture opportunities from rising energy demand linked to AI growth, using advanced technologies to improve efficiency, reduce emissions, and sustain our competitive edge as one of the world’s leading integrated energy and chemicals companies.”
 PIF is actively investing in AI partnerships and infrastructure as part of its mandate to develop key strategic sectors in Saudi Arabia and localize modern technologies, driving development and diversification of the domestic economy. PIF's strategy for the AI and digital economy leverages Saudi Arabia's position as a globally competitive market through innovation and capacity building.
 Aramco's extensive domain expertise supports the delivery of transformative solutions, and upon completion of the transaction, Aramco is expected to leverage HUMAIN's AI infrastructure to translate advanced AI capabilities into industrial applications, further enhancing its global ecosystem and operations.
 Launched in May 2025, HUMAIN 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. Recently, the Saudi Company for Artificial Intelligence (SCAI), wholly owned by PIF, was transferred to HUMAIN, further enhancing the company’s capabilities in line with PIF’s strategy for the AI and digital economy.
 The term sheet is subject to the signing of definitive agreements, applicable regulatory approvals, and other customary conditions.