Aramco closes its HUMAIN deal, taking 49% and contributing about $2.6 billion in cash in 2026
Saudi Arabia’s Public Investment Fund (PIF) and Aramco announced on 1 November 2026 that they have closed the HUMAIN transaction: Aramco, through a wholly owned subsidiary, takes a 49% stake in the Saudi AI company and PIF keeps 51%. Besides transferring its own AI assets, Aramco will contribute about SAR 9.9 billion ($2.6 billion) in cash in 2026, supporting HUMAIN’s plan to deploy 3 gigawatts of AI data center capacity by 2030.
According to the joint statement published by Aramco, Aramco acquires 49% of HUMAIN through a wholly owned subsidiary while PIF keeps 51% and control. Aramco’s contribution consists of about SAR 9.9 billion ($2.6 billion) in cash during 2026 plus transferred AI, compute and digital assets. Arab News notes the deal formalises an arrangement first announced in October 2025, when the two signed a non-binding term sheet on 28 October 2025 to combine their AI assets, capabilities and talent under HUMAIN.
HUMAIN launched in May 2025 and, by its own description, covers four areas: next-generation data centers, high-performance infrastructure and cloud platforms, advanced models including the multimodal Arabic large language model ALLaM, and industry AI solutions. The statement says the deal supports HUMAIN’s plan to deploy 3 gigawatts of AI data center capacity by 2030, with the aim of becoming one of the world’s leading AI exporters; these are company plans, not capacity already built.
For Aramco, the statement says it will use HUMAIN’s AI infrastructure to bring advanced AI into industrial applications and benefit as a shareholder and strategic partner, while improving the monetization of its existing AI and digital assets. Aramco President and CEO Amin H. Nasser said the company has achieved $11.3 billion in “Technology Realized Value” since 2023, a significant portion from AI solutions; that figure is Aramco’s own measure.