Aramco completes purchase of 49% of Saudi AI company HUMAIN for about $2.6 billion

Saudi Aramco has closed its acquisition of a 49% stake in HUMAIN, Saudi Arabia’s national artificial-intelligence company, Aramco and the Public Investment Fund (PIF) announced on Sunday, 1 November 2026, according to DailyAI and AI Weekly.

The deal

• Aramco pays about SAR 9.9 billion (roughly $2.6 billion) in cash this year and contributes its own AI, computing and digital assets to HUMAIN.
• PIF keeps 51% of the company.
• The closing formalises a term sheet signed about a year ago, Arab News noted, as cited by DailyAI.

In a statement quoted by DailyAI, Aramco said the partnership is “a strategic step toward strengthening our global position in AI”.

Context

HUMAIN was launched in May 2025. According to DailyAI, it is targeting 3 gigawatts of AI data-centre capacity by 2030 and aims to become a major exporter of AI computing. For the world’s largest oil company, the stake is a significant bet on digital infrastructure alongside its core energy business.