Saudi Aramco Acquires 49% of HUMAIN, PIF Retains 51%
Saudi Aramco acquired a 49% stake in AI company HUMAIN, while Saudi Arabia's Public Investment Fund retained the remaining 51%, according to multiple reports citing the announcement. The transaction combines about SAR 9.9 billion in cash, or approximately $2.6 billion, with key AI assets and capabilities; HUMAIN builds data centers, cloud platforms and models including the Arabic model ALLaM. Aramco said it plans to use HUMAIN's infrastructure for industrial AI applications, while the shareholders will contribute assets, capabilities and talent.
The deal links one of the world's largest petrochemical companies with a state-backed AI company, combining capital, AI assets and industrial deployment plans.
Saudi Aramco’s adjusted net income rose to $31.2 billion in the third quarter, from $28.6 billion a year earlier. The state oil company reported the figures in its results on Tuesday. Its report also highlights a new 49% stake in HUMAIN, Saudi Arabia’s state-backed AI company.
Aramco is paying with key AI assets and about SAR 9.9 billion ($2.6 billion) in cash in 2026. It announced the terms when the deal closed on 1 November. The Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, keeps the other 51%.