In a move set to accelerate Saudi Arabia’s ambitions in artificial intelligence, the Public Investment Fund (PIF) and Aramco have signed a non-binding term sheet outlining plans for Aramco to acquire a significant minority stake in HUMAIN, a PIF-backed company driving global AI innovation.

Under the proposed agreement, PIF and Aramco will contribute their AI assets, expertise, and talent to HUMAIN, with PIF retaining majority ownership. The partnership aims to scale HUMAIN’s operations rapidly, enabling it to capture value and strengthen Saudi Arabia’s standing as a global AI powerhouse.

Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF, described the deal as a key step in consolidating Saudi Arabia’s AI ecosystem. “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,” Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said.

He added: “This development is aligned with PIF’s strategy by further strengthening Saudi Arabia’s position as a globally competitive AI hub and places the country at the heart of reshaping the future of global AI.”

Aramco President and CEO Amin Nasser emphasized that the investment will advance both industrial AI adoption and national digital transformation. 

“Aramco’s planned investment in HUMAIN is expected to further strengthen our leadership in industrial AI applications and digital solutions, while accelerating the development of Saudi Arabia’s AI infrastructure and driving national transformation,” Nasser said.

He continued: “Aramco is well positioned to capture opportunities from rising energy demand linked to AI growth, using advanced technologies to improve efficiency, reduce emissions, and sustain our competitive edge as one of the world’s leading integrated energy and chemicals companies.”

The initiative builds on PIF’s ongoing efforts to develop key strategic sectors and localize advanced technologies that diversify and strengthen the Saudi economy. Launched in May 2025, HUMAIN is focused on developing full-stack AI capabilities across four pillars, including next-generation data centers, hyper-performance infrastructure and cloud platforms, advanced AI models, and transformative AI solutions.

Among its standout projects is ALLAM, one of the world’s most advanced multimodal Arabic large language models. The company’s capabilities were further bolstered following the transfer of the Saudi Company for Artificial Intelligence (SCAI), a wholly owned PIF subsidiary, into HUMAIN earlier this year, reinforcing PIF’s vision for an integrated and globally competitive AI and digital economy.