Aramco takes 49% stake in Saudi AI company HUMAIN for $2.6 billion plus assets

The oil giant pairs cash with AI, computing and digital assets as PIF keeps majority control of the kingdom's flagship AI venture Saudi Aramco, the company best known for pulling oil out of the ground, now owns a big slice of a Saudi artificial intelligence company. It has acquired a 49% stake in HUMAIN, the AI firm set up by the kingdom’s Public Investment Fund. Aramco will put in $2.6 billion in cash, along with AI and digital assets. What Aramco is buying The research findings put the deal’s value at approximately SAR 9.9 billion, or $2.6 billion. They say the transaction was officially announced on November 1, 2026. The consideration isn’t purely cash. Aramco is also contributing AI, computing and digital assets, so it is bringing hardware and know-how along with its checkbook. The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, keeps the remaining 51%. That leaves PIF with a controlling interest and Aramco as a heavyweight minority partner. The partnership aims to push forward HUMAIN’s plan for an integrated AI ecosystem. That covers next-generation data centers, AI solutions built for specific industries, and ALLaM, a multimodal Arabic large language model...