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1 / 4Aramco takes 49% of Saudi Arabia's HUMAIN for about $2.6 billion in cash plus its own AI assets×

The stake

Aramco has completed the purchase of a 49% stake in HUMAIN, the AI company the Public Investment Fund launched in May 2025, the two said in a joint statement on Sunday.

The price

Aramco pays about 9.9 billion riyals ($2.6 billion) in cash during 2026 and hands over its AI, computing and digital assets; the fund keeps 51%. Neither side gave a valuation.

The build-out

HUMAIN builds the Arabic model ALLAM and plans up to 3 gigawatts of data center capacity by 2030. The two signed a nonbinding term sheet a year ago.

What it means

Closing it now puts the kingdom's oil earnings directly behind its AI build-out, in the same week US private investors trimmed what they will put into OpenAI.

Sources and the full story

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Aramco takes 49% of Saudi Arabia's HUMAIN for about $2.6 billion in cash plus its own AI assets

Aramco has completed the purchase of a 49% stake in HUMAIN, the AI company the Public Investment Fund launched in May 2025, the two said in a joint statement on Sunday. Aramco pays about 9.9 billion riyals ($2.6 billion) in cash during 2026 and hands over its AI, computing and digital assets; the fund keeps 51%. Neither side gave a valuation. HUMAIN builds the Arabic model ALLAM and plans up to 3 gigawatts of data center capacity by 2030.

The two signed a nonbinding term sheet a year ago. Closing it now puts the kingdom's oil earnings directly behind its AI build-out, in the same week US private investors trimmed what they will put into OpenAI. SourcesBC

Sources

• BOil giant Aramco takes 49 pct stake in Saudi AI company (AFP via The Peninsula)thepeninsulaqatar.com
• CAramco and PIF on HUMAIN (Jawlah)jawlah.co

This story ran in the Morning Brief of November 1st 2026.