Riyadh: The Public Investment Fund (PIF) and Aramco have announced the signing of a non-binding term sheet for Aramco to acquire a significant minority stake in HUMAIN, a PIF company focused on developing artificial intelligence (AI) capabilities globally. The agreement outlines that PIF will retain the majority ownership of HUMAIN.
According to Saudi Press Agency, both PIF and Aramco plan to contribute AI assets, capabilities, and talent to HUMAIN as shareholders. The collaboration aims to enable the rapid scaling of HUMAIN's operations, thereby accelerating its growth and value in the AI sector. The proposed transaction is expected to position Saudi Arabia as a global leader in advanced data and AI technologies, while attracting talent and investment opportunities.
Deputy Governor and Head of MENA Investments at PIF, Yazeed Al-Humied, stated that the integration of PIF and Aramco's AI assets under HUMAIN will foster AI talent, innovation, and intellectual property. He emphasized that this development aligns with PIF's strategy to solidify Saudi Arabia's position as a globally competitive AI hub, placing the country at the forefront of reshaping the future of global AI.
Amin Nasser, Aramco's President and Chief Executive Officer, remarked that the investment in HUMAIN is expected to bolster Aramco's leadership in industrial AI applications and digital solutions. He highlighted that it will accelerate the development of Saudi Arabia's AI infrastructure and contribute to the nation's transformation. Aramco aims to leverage advanced technologies to meet rising energy demand linked to AI growth, enhancing efficiency, reducing emissions, and maintaining its competitive edge as a leading integrated energy and chemicals company.
PIF is committed to investing in AI partnerships and infrastructure to develop key strategic sectors in Saudi Arabia, as part of its mandate to localize modern technologies and diversify the domestic economy. Aramco's extensive domain expertise is anticipated to deliver transformative solutions, leveraging HUMAIN's AI infrastructure for industrial applications upon completion of the transaction.
HUMAIN, launched in May 2025, is building full-stack AI capabilities across four core areas, including next-generation data centers, hyper-performance infrastructure, advanced AI models, and transformative AI solutions. The recent transfer of the Saudi Company for Artificial Intelligence (SCAI), wholly owned by PIF, to HUMAIN, enhances the company's capabilities in line with PIF's AI and digital economy strategy.
The term sheet is subject to the signing of definitive agreements, regulatory approvals, and customary conditions.