Aramco acquires 49 percent stake in AI firm HUMAIN
State-owned oil giant Aramco has finalized a deal to acquire a 49 percent stake in Saudi AI startup HUMAIN, with the Public Investment Fund retaining the remaining 51 percent.
Energy giant Aramco has moved to secure a significant footprint in the artificial intelligence sector through the acquisition of a 49 percent interest in HUMAIN. The deal, announced November 1, shifts the startup from being entirely held by the Public Investment Fund (PIF) to a joint venture structure where the PIF retains a 51 percent controlling interest.
The investment is valued at approximately 9.9 billion Saudi riyals, or roughly 1.75 billion USD. Under the agreement, both Aramco and the PIF will integrate proprietary artificial intelligence assets, technical infrastructure, and human capital into the startup to scale its operational capabilities.
Aramco intends to leverage HUMAIN’s platform to deploy AI solutions within its industrial workflows. This move aligns with broader regional efforts to diversify Saudi Arabia’s economy away from oil dependency by fostering high-tech domestic industries. The collaboration is expected to focus on applying machine learning to enhance operational efficiency across the company's global energy infrastructure.