01. Key takeaways

Saudi Aramco has completed its purchase of a 49% stake in HUMAIN, the Public Investment Fund’s artificial intelligence company, the two shareholders said on 1 November 2026. Aramco is contributing about SAR 9.9 billion ($2.6 billion) in cash this year plus its own AI, computing and digital assets. PIF keeps 51%. HUMAIN plans 3 gigawatts of AI data-centre capacity by 2030.

Saudi Aramco has completed a deal to take a 49% stake in HUMAIN, Saudi Arabia’s state-backed artificial intelligence company, the Public Investment Fund (PIF) and Aramco announced on Sunday, 1 November 2026. PIF, the kingdom’s sovereign wealth fund, keeps the remaining 51%.

02. The deal in numbers

According to the joint statement, Aramco holds the stake through a wholly owned subsidiary. The transaction involves cash contributions of about SAR 9.9 billion ($2.6 billion) from Aramco to HUMAIN in 2026, in addition to the transfer of Aramco’s AI, computing and digital assets.

The closing formalises a non-binding term sheet that PIF and Aramco signed on 28 October 2025 to combine their AI assets, capabilities and talent under HUMAIN, Arab News reported.

03. What HUMAIN does

HUMAIN was launched in May 2025. The company says it is building capabilities in four areas: next-generation data centres; high-performance infrastructure and cloud platforms; AI models, including ALLaM, an Arabic large language model; and AI solutions for businesses and government. It plans to deploy 3 gigawatts (GW) of AI data-centre capacity by 2030 and aims to become one of the leading exporters of AI.

In October, HUMAIN and data-centre developer DataVolt announced a preliminary framework agreement with AI cloud company Nebius for up to 50 megawatts of capacity at a planned campus in Oxagon, NEOM, Reuters and Arab News reported. Arab News said the capacity is expected to come online in phases from the fourth quarter of 2027.

04. What the companies said

Aramco President and CEO Amin H. Nasser said: “The HUMAIN deal is very important to Aramco, building on the company’s long track record of innovation and technology.” He added that since 2023 Aramco has achieved “$11.3 billion in Technology Realized Value, with a significant portion coming from AI solutions.”

Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said bringing the two portfolios together “creates a powerful synergy that fuels talent growth, technological advancement, and intellectual property creation.”

Aramco said it expects to use HUMAIN’s infrastructure to apply AI in its industrial operations, and that the partnership should help it earn more from its existing AI and digital assets alongside its core energy business.

05. Analysis: an oil giant bets on compute

This section is Newsy’s analysis, not reported fact. The deal ties Saudi Arabia’s largest company more closely to the kingdom’s plan to diversify beyond oil. Large AI data centres need cheap, reliable power and large amounts of capital, both of which Aramco and PIF can supply. The 3 GW target is ambitious. Whether HUMAIN reaches it will depend on access to advanced AI chips, on signing up international customers such as the proposed Nebius arrangement, and on how quickly projects such as the Oxagon campus are built. For other markets, including India, which is also trying to expand domestic AI computing capacity, the deal shows how energy-rich Gulf states are competing to host the infrastructure behind AI services.

Related on Newsy: more coverage in our AI section and Technology section.

06. FAQ

What stake has Aramco taken in HUMAIN?

49%, held through a wholly owned subsidiary. The Public Investment Fund keeps 51%.

How much is Aramco paying?

About SAR 9.9 billion ($2.6 billion) in cash contributions in 2026, plus its AI, computing and digital assets.

What is HUMAIN?

Saudi Arabia’s national AI company, launched by PIF in May 2025. It builds data centres, cloud infrastructure and AI models, including the Arabic model ALLaM.

How much data-centre capacity does HUMAIN plan?

3 gigawatts of AI data-centre capacity by 2030, according to the company.

07. Sources