Saudi Aramco has completed its acquisition of a 49 per cent stake in Saudi artificial intelligence company Humain through an investment of approximately SR9.9 billion ($2.6 billion), strengthening the Kingdom's push to develop domestic AI capabilities and position itself as a global technology player.
The transaction, completed on November 1, gives Aramco a significant minority interest in the state-backed AI company, while the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, retains a 51 per cent majority stake.
Aramco is making the investment through a wholly owned subsidiary. In addition to the cash contribution during 2026, the energy company will contribute AI, computing and digital assets to support Humain's expansion.
The transaction formalises an agreement first announced in October 2025, when PIF and Aramco outlined plans to consolidate their AI assets, capabilities and talent under Humain.
According to the companies, the partnership is intended to accelerate Humain's growth and expand its AI capabilities to serve rising regional and international demand for computing infrastructure.
Humain targets 3GW of AI data centre capacity by 2030
Launched in May 2025, Humain is developing an integrated AI business spanning four areas: next-generation data centres, high-performance computing infrastructure and cloud platforms, advanced AI models, and AI-powered solutions for businesses and government organisations.
The company is targeting 3 gigawatts (GW) of AI data centre capacity by 2030 as it seeks to expand its computing capabilities and establish itself as a global provider of AI infrastructure and services.
Its AI model portfolio includes ALLaM, a multimodal large language model designed for Arabic-language applications.
The expansion is also attracting international interest. On October 21, Humain and DataVolt announced a preliminary framework agreement with AI cloud company Nebius for data centre capacity at their planned campus in Oxagon, NEOM.
Under the proposed arrangement, Nebius would take up to 50 megawatts of capacity, accounting for half of the initial 100MW under construction in the project's first phase, which is planned to reach 360MW. Operations are expected to begin in phases from the fourth quarter of 2027.
Aramco looks to scale AI across industrial operations
For Aramco, the investment is expected to provide access to Humain's computing infrastructure and AI services, which the energy company plans to deploy across its industrial operations and wider business ecosystem.
The partnership is also expected to create opportunities to monetise Aramco's existing digital and AI assets, support revenue growth and improve operational performance.
Amin H. Nasser, Aramco's president and CEO, said the company had generated $11.3 billion in technology-related realised value since 2023, with a significant portion attributed to AI solutions.
He said the partnership with PIF would strengthen Aramco's position in the global technology and AI sectors while supporting the localisation of the AI industry and enabling faster, more integrated deployment of AI systems.
Yazeed Al-Humied, PIF's Deputy Governor and Head of Middle East and North Africa Investments, said combining the two shareholders' AI investment portfolios under Humain would create opportunities for collaboration in talent development, technological advancement and intellectual property creation.
He added that the transaction would strengthen AI's role across PIF's six economic ecosystems, encourage greater private-sector participation and support the development of advanced technologies in Saudi Arabia.
The investment reflects Saudi Arabia's broader efforts to diversify its economy beyond hydrocarbons by building capabilities in artificial intelligence, digital infrastructure and advanced technologies.