RIYADH: Energy giant Saudi Aramco has signed a non-binding term sheet to acquire a significant minority stake in Humain, the artificial intelligence company backed by the Public Investment Fund.
The proposed deal will see both Aramco and PIF contribute AI-related assets, capabilities, and talent to help scale Humain’s operations and capture new value in the rapidly expanding data and AI sector, according to a joint statement from the companies.
While financial details were not disclosed, PIF will retain majority ownership of Humain, ensuring continued strategic control and support.
The transaction aligns with Saudi Arabia’s broader goal of strengthening its AI capabilities as the Kingdom positions itself as a regional technology hub by the end of the decade.
Yazeed A. Al-Humied, deputy governor and head of Middle East and North Africa Investments at 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.”
