PIF, which is the Kingdom of Saudi Arabia’s sovereign wealth fund, and Aramco, a Saudi-owned petroleum and natural gas company headquartered in Dhahran, have 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.
In a press release, Aramco revealed that PIF and Aramco would contribute AI assets, capabilities and talent into 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.
Yazeed A. Al-Humied, Deputy Governor and Head, MENA Investments, PIF, said, “By combining PIF and Aramco’s AI assets under HUMAIN, we are fueling 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 localize modern technologies. Meanwhile, Aramco aims to support 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. The term sheet is subject to the signing of definitive agreements, applicable regulatory approvals and/or other customary conditions.
Launched in May 2025, HUMAIN is building full-stack AI capabilities across four core areas: data centers, hyper-performance infrastructure and cloud platforms, advanced AI models including ALLAM, an Arabic large language model (LLM), 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.