- PIF and Aramco signed a non-binding term sheet to combine their artificial intelligence (AI) assets and work jointly through HUMAIN, a PIF-owned company.
- Under the agreement, Aramco will acquire a significant minority stake in HUMAIN, while PIF will retain majority ownership.
- Both entities will contribute AI assets, capabilities, and talent to HUMAIN, creating a unified platform to accelerate the company’s growth and global reach.
- HUMAIN, launched by PIF in May 2025, is developing full-stack AI capabilities across four pillars: next-generation data centers, cloud infrastructure, advanced AI models—including ALLAM, one of the world’s most powerful Arabic LLMs—and transformative AI solutions.
- Earlier this year, the Saudi Company for Artificial Intelligence (SCAI) was transferred to HUMAIN, expanding its capabilities in line with PIF’s broader digital economy strategy.
- The transaction remains subject to definitive agreements and regulatory approvals.
Press release:
PIF and Aramco today 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 AI capabilities globally.
PIF and Aramco would contribute AI assets, capabilities and talent to HUMAIN, with PIF and Aramco as its shareholders. PIF would continue to own the majority of HUMAIN. The intention is to enable the rapid scaling up 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 the most advanced data and AI technologies and in attracting talents and investment opportunities. 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 fuelling AI talent, innovation and intellectual property, while aligning and accelerating future investment opportunities. This development is aligned with PIF’s strategy by further strengthening 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 & CEO, 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 further localise modern technologies, driving the development and diversification of the domestic economy. PIF’s strategy for the AI and the digital economy benefits from Saudi Arabia’s position as a globally competitive market through innovation and capacity building. Aramco’s extensive domain expertise supports 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 centres, 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, 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/or other customary conditions.